The national Bank has changed the rules of carrying out transactions on the currency exchange. The three main innovations

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The changes will take effect from 1 July.

National Bank has simplified the conduct of banks and other financial institutions swaps currency. The new rules will take effect from 1 July.

Electronic documents instead of paper

NBU simplifies registration of banks and other financial institutions of transactions in currency exchange. Until now, banks had to issue two paper copies of the receipts on the implementation of such an operation – one for client, one for storage in the Bank. In the future, banks will be able to issue receipts on foreign exchange operations not only in paper form and in electronic form. Accordingly, banks will be able to store the relevant documents in electronic form. Also, with the consent of the client, the Bank will be able to issue the customer a paper document.

Other financial institutions engaged in currency exchange, is now required to issue two paper copies of the two receipts and paper billing documents that are printed by the Registrar of payment transactions (PPO). They will be issued to customers foreign exchange operations-only one document – a document that is printed by the cash register. Accordingly, they will not give clients a receipt on the implementation of foreign exchange transactions.

While banks and financial institutions will not require the customer’s signature on a check or document PPO, if the amount of foreign exchange transactions will be less than 150 thousand UAH.

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The dollar and the Euro simultaneously cheaper only one penny in the courses of the national Bank. Infographics

Foreign exchange transactions using payment device

NBU provides banks and financial institutions to conduct currency exchange transactions via payment devices. Once finalized, these agencies software payment device individuals be able not only to sell but also to buy cash foreign currency with the use of these devices.

Reporting documents on foreign currency exchange operations in the form of an electronic document

In connection with the development of electronic document management and to promote a paperless environment banks and financial institutions will be able to obtain documentation from foreign exchange transactions in the form of an electronic document.

The national Bank noted that the introduction of new requirements relating to the use of RRO when conducting currency exchange using the payment device and processing of the relevant settlement documents, cash registers and receipts of the ATM, financial institutions were given a 6-month transition period. During the second half of 2018, they will execute foreign exchange transactions in accordance with the procedure which was in force until now. Conduct foreign exchange operations under the new rules they will start from 1 January 2019.

We will remind, the national Bank has simplified the foreign money transfers.

The national Bank has changed the rules of carrying out transactions on the currency exchange. The three main innovations

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