The national Bank of Ukraine (NBU) announces the reduction from 4 January 2017 the maximum amount of cash settlements with participation of physical persons from 150 thousand to 50 thousand UAH. About it reports a press-service of the NBU.
Relevant provisions are contained in the resolution of Board of National Bank of Ukraine from 25.11.2016 No. 407 “About modification of the resolution of Board of National Bank of Ukraine from June 6, 2013 № 210 “On establishing the maximum amount of cash settlements”.
Thus, the regulation provides the maximum amount of cash settlements between individuals and the enterprise (entrepreneur) in one day in the amount of 50 thousand UAH, as well as individuals among themselves for contracts of sale, which are subject to notarization, in the amount of 50 thousand UAH.
The NBU clarifies that individuals have the right to make payments in an amount exceeding UAH 50 thousand, by transferring funds from the current account to the current account, depositing and/or transferring funds to current accounts (including the notary Deposit in a separate current account in national currency).
This cashless settlement is possible without any restrictions and banks are obliged to provide Bank transfer under the requirement of the customers in full.
At the same time, the maximum amount of cash settlements of enterprises (or entrepreneurs) with each other in one day remains unchanged at 10 thousand UAH.
The national Bank of Ukraine notes that the establishment of the limit amount of cash settlement at the level of 50 thousand UAH will not cause inconvenience to the citizens and will not affect daily shopping population, because it only applies to major purchases (real estate, jewelry, vehicles, art objects, furs, luxury watches, travel, etc.).
The decision of the National Bank of Ukraine on the issue, according to the press surby NBU, fully complies with international experience in many European States (France, Belgium, Portugal, Italy, Spain, Greece) has set a limit on the amount of cash payments, other countries are also planning to introduce similar rules.
Control over observance of the procedure of cash settlements for goods (or services) in accordance with the Tax code of Ukraine to implement the State fiscal service of Ukraine.
The establishment of the maximum amount of cash settlements with participation of physical persons to 50 thousand UAH. will contribute to securing a stable income of cash in the banking system and speed up her treatment and also narrowing the scope of use of cash and accelerate the development of non-cash segment.
The national Bank noted that the Complex program of development of the financial sector of Ukraine till 2020 provides for the gradual reduction of cash in economy (the ratio of M0 to GDP) in 2020 to 12% (in 2014 the figure was 18.1 per cent, and by results of 2015 decreased to 14.6%).
