For the duration of martial law, the NBU lifted requirement to provide source verification documents from banks, namely about cash withdrawal from own accounts and purchase of investment metals, when taking currency valuables abroad. Before that the individuals had to provide such documents when taking abroad currency valuables for the amount of EUR 10,000 (in equivalent).
It is still required to declare currency valuables that exceed the amount of EUR 10,000 (in equivalent).
The NBU also allowed Ukrainians to transfer foreign currency to the accounts of the Cabinet of Ministers of Ukraine, ministries and other public authorities of Ukraine, in particular to the account created for humanitarian assistance to Ukraine. As we reported earlier, on 1 March the NBU gave Ukrainians an opportunity to transfer money in foreign currency to the special account opened by the NBU to raise money to support the Armed Forces of Ukraine.
Additional decision has been made to allow remittances (except for Russian and Belorussian rubles) from the residents of Russia and Belarus and from accounts where ultimate beneficial owners are residents of Russia and Belarus to:
- a special fundraising account opened by the NBU to support the Armed Forces of Ukraine
- accounts of the Cabinet of Ministers of Ukraine, ministries and other public authorities of Ukraine, including account created for humanitarian assistance for Ukraine
- residents accounts in banks for export of goods.
The NBU has also:
- expanded the list of exceptions to the ban on the sale of currency valuables by authorized institutions on behalf of clients
- clarified that access to safe-deposit boxes is ensured for clients without any restrictions unless doing so puts at risk the lives and health of the public
- allowed banks to buy cash hryvnia from foreign financial institutions for cashless foreign currency in the amount of EUR 1 million per day (in equivalent)
- identified the specifics of transactions with banks to purchase and sell U.S. dollars and euros that are carried out by the NBU.
These changes were made by NBU Board Resolution No. 36, dated 4 March 2021, On Amendments to NBU Board Resolution No. 18, dated 24 February 2022, which took effect on 4 March 2022.