The National Bank of Ukraine enhances the protection of users of services related to the acceptance of payments in cash.

In particular, effective from 30 August 2016, banks’ commercial agents shall be required to indicate in the payment document (payment slip/receipt) issued to a payer  upon the execution of the transaction involving  acceptance of cash to be further transferred the name of the bank and the commercial agent authorized thereby to provide  such services.

This move will ensure that users of services related to the acceptance of payments in cash are provided with information about service providers and strengthen the protection of their rights and legal interests.

These regulatory changes are specified in NBU Board Resolution No. 376, dated 23 August 2013, On Amendments to NBU Board Resolution No. 42, dated 12 February 2013 (hereinafter – Resolution No. 376).  This resolution is designed to improve the rules governing the execution of transactions involving acceptance of payments in cash by banks’ commercial agents.

Resolution No. 376 shall come into effect from 30 August  2016.