Ukraine

NBU proposes to update system for working with banknotes that go out of circulation

The National Bank of Ukraine proposes to make changes to the rules governing the organization of cash operations by banks and payment operations by payment service providers. About this informs press office of the regulator.

The innovations are aimed at improving the process of processing hryvnia banknotes that are withdrawn from circulation and handed over to the National Bank, as well as the marking of accompanying labels for cassettes and boxes with banknotes or coins.

Separately, it is planned to regulate the requirements for the technical capabilities of the equipment used by banks, collection companies or companies specializing in cash handling.

These proposals are outlined in the draft resolution of the Board of the National Bank of Ukraine “On Approval of Amendments to the Instructions on the Procedure for Organizing Cash Work by Banks and Conducting Payment Operations by Payment Service Providers”, which is open for public discussion.

 

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