From now on, legal entities, sole proprietorships and natural persons conducting independent professional activities cannot receive cash by transfer without first crediting it to the account, according to the resolution of the board of the National Bank of Ukraine (NBU) No. 101 dated August 23, 2024.
“In particular, in order to increase the transparency of payment transactions and prevent financial transactions with cash, which have a high risk of their probable use for illegal purposes, certain restrictions have been established during the transfer of cash without opening an account”, – explained the National Bank reasons for innovations.
The regulator notes that from now on, payment service providers are obliged to credit funds for cash transfer operations without opening an account to the accounts of business entities.
“That is, issuing cash by transfer without opening an account for business entities is possible only from their accounts (after it has been previously credited in a non-cash form),” the central bank clarifies.
It is noted that there are no restrictions for citizens, they can, as before, choose the convenient type of transfer and settlement with business entities for services or goods – in cash or non-cash.
The above-mentioned resolution will enter into force on August 29, 2024.
