National Bank denied wrong information in media


From April 28, new rules will apply to remote identification and verification of bank customers.

Payment system may stop working in Ukraine: why it is a fake

National Bank said that the media started disseminating inaccurate information related to changes in the process of identification and verification of bank customers.

So, according to journalists’ publications, from April 28 this year, payment systems will be halted, resulting in users not being able to pay utility bills, transfer funds, pay for goods and services. The press service of the regulator emphasized that this information is not true.

According to the NBU, the law provides for two basic requirements:

  • Identifying and Verifying Payer
  • With the transfer of funds with the required list of data about the payer and receiver

At the same time, the law’s updated requirements do not apply to:

  1. Payment of housing and communal services, payment of taxes, fines, other mandatory fees and charges (regardless of amount)
  2. Loan repayment in the amount of up to 30 thousand UAH
  3. Transfers for payment of goods and services using a payment card (or other electronic means of payment) by the payer if its number comes with a transfer (regardless of amount)
  4. All cash transfers in Ukraine up to 5 thousand UAH
  5. Withdraw funds from your account

National Bank stated that payment of utility bills is a low-risk operation, which requires simplified identification, verification and examination of customers. Because of this, the law on the support of money transfers with information about payer and payee does not apply to operations for the payment of utility bills.

Paypal magazine help

Earlier, we wrote that several Ukrainian media published news that a new tax would allegedly appear in Ukraine. It is reported that Ukrainian bank card users will have to pay a tax of 19.5% (18% income tax as well as 1.5% military fee) on each payment from the card if it was not received from close relatives.

In fact, on January 31, 2020, the State Tax Service published an explanation on the issue and debunked this myth. Yesterday, the agency once again commented on fake discussions. The message states that “a new tax is being introduced and now all funds coming on personal cards will be taxed.”

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