On 10 February 2016, the Board of the National Bank of Ukraine issued  Resolution No. 65 On Amendments to the Regulation On Electronic Money in Ukraine  (hereinafter Resolution No. 65). 

Ensuring further development of cashless e-payments, particularly through the provision of access to the market of international online payment systems, is one of the areas of the NBU’s activities.

For this purpose, Resolution No. 65 allows individuals to receive electronic money issued by nonresident issuers from nonresidents through international online payment systems. 

Earlier, the NBU amended the Instruction on the Procedure of Opening, Use and Closing of Accounts in Domestic and Foreign Currencies in respect of expanding the operation of individuals’ accounts.  The simplification of the rules governing the operation of individuals’ accounts allows foreign currency transferred from abroad, including settlements of transactions involving e-money issued by nonresident issuers, to be credited to the current accounts held by individuals. 

Additionally, Resolution No. 65 has simplified the procedure for obtaining the NBU’s approval for the rules governing the use of e-money for member banks/domestic payment system participants.

Resolution No. 65 comes into effect from 13 February 2016.

Аpproved by NBU Board Resolution No. 492, dated 12 November 2003 (as amended by NBU Board Resolution No. 833 of 27 November 2015).