The National Bank of Ukraine reminds that operations involving cash acceptance for its further transfer  through payment devices (ATMs, POS terminals, self-service terminals) and/or cash acceptance terminals can be performed by:

• banks that operate under banking licenses;
• сommercial agents of banks being legal entities that have entered into agent agreements with banks;
• non-banking financial institutions that in accordance with applicable laws have obtained licenses from the NBU for money transfers in domestic currency without opening accounts and are payment institutions and/or payment system participants that perform operations under the payment system rules agreed with the NBU.   The procedure for granting such licenses are defined in the Regulation On the Rules Governing the Issuance of Licenses for Money Transfers in Domestic Currency Without Opening Accounts to Non-Bank Financial Institutions.

More information about operation involving cash acceptance for further transfer in Ukraine is available on the  NBU’s website. 

With regard to operations performed by commercial agents of banks, it should be noted that commercial agents of banks provide services related to cash acceptance and its further transfer on behalf and for the benefit as well as under control for account of banks they represent.

Entities that act on their own behalf but for the benefit of others shall not be commercial agents.

The National Bank of Ukraine maintains the Register of banks’ commercial agents and establishes requirements thereto.

The bank shall inform the National Bank of Ukraine of the agent agreements entered into by it.

Therefore, if a bank enters into an agreement on cash acceptance in domestic currency and its further transfer, this bank is required to enter information about this legal entity into this Register.

It is important that a bank shall be responsible before a payer and a payee for money transfers executed through commercial agents.

In addition, under applicable laws commercial agents of banks and non-banking financial institutions engaged in operations involving cash acceptance and its further transfer are required to use payment transaction registers.