30 September 2022, Friday, 15:45 219

NBU Bans Р2Р-Transfers From Hryvnia Cards Of Ukrainian Banks To Cards Of Foreign Banks From October 5

Редактор: Tetiana Herasimova

From October 5, the National Bank returns the ban on Р2Р-transfers from hryvnia payment cards of Ukrainian banks to cards of foreign banks.

This is stated in the NBU message, Ukrainian News Agency reports.

The permission to Р2Р-transfers abroad from hryvnia payment cards, adopted in April 2022, allowed Ukrainians to support during the most difficult period their families and friends, who were forced to move to other countries due to the full-scale aggression of the Russian Federation.

At the same time, after more than seven months of martial law, the role of such an instrument for maintaining citizens abroad decreases, while the risks of using it to bypass restrictions on the purchase of currency increase.

In view of this, such a measure will contribute to the protection of Ukraine's international reserves, which are important, in particular, for the smooth operation of the economy and for defense procurement.

However, Ukrainians will continue to be able to transfer funds abroad to pay for education (to the accounts of educational institutions), medical treatment, transportation of patients, expenses related to death, as well as to pay alimony.

In addition, the NBU took into account the requests of citizens and allowed from October 1 to transfer funds abroad to pay for education to the account of a non-resident legal entity, which, in accordance with the powers granted by the educational institution, accepts funds.

Also, citizens can transfer funds between hryvnia payment cards of Ukrainian banks, regardless of the country of actual stay of the client.

In addition, the permission to Р2Р-transfers from foreign currency payment cards of Ukrainian banks to cards of foreign banks within the monthly limit of UAH 100,000 (equivalent) remains, which is common for these transactions and for transactions related to "quasi cash."

Taking into account the requests of banks and charitable funds, as well as the results of a detailed study of this issue with other state bodies, the National Bank has introduced additional grounds for completing currency supervision over compliance with the deadlines for settlements for import operations of products imported into Ukraine as humanitarian assistance.

The NBU has identified a list of documents that allow banks to complete foreign exchange supervision over such import transactions.

Among them, in particular, are the following: a declaration on the list of goods recognized as humanitarian aid, as well as documents confirming the transfer or receipt of imported humanitarian aid by its recipient.

In addition, the National Bank allowed the transfer of funds to a non-resident under a commission agreement, agency agreement or order agreement through the sale of services or works included in the list defined by Resolution of the Cabinet of Ministers No. 153 from February 24, 2022.

As Ukrainian News Agency earlier reported, from July 21, the NBU adjusted the official hryvnia exchange rate by 25% to 36.5686 UAH/USD.

Since August 6, 2022, the National Bank abolished the restriction, according to which banks and non-bank institutions had to buy cash currency from the population at a rate not lower than the official one.

The National Bank allowed banks to sell more currency to the public.

So, from September 6, the volume of cash currency that the bank can offer to the population will include the entire volume of non-cash currency purchased by it from April 13, 2022, and not half of it.