Business welcomes the NBU’s decision to simplify certain restrictions on the use of corporate cards

08/ 08/ 2022

Since August 6, the National Bank of Ukraine has simplified certain currency restrictions on the use of corporate payment cards and enabled banks not to apply the limit to the operations from hryvnia payment cards abroad conducted by natural persons-volunteers (provided that certain requirements are met at the same time). In the context of business operations, the NBU allowed banks to sell foreign currency to legal entities and individual entrepreneurs who are residents of Ukraine with credit to the clients current account in foreign currency and subsequent payment by corporate card: for the travel of employees abroad exclusively for the payment of daily expenses within the daily limit of 80 euros (or equivalent) per employee; for accommodation and transportation expenses (with documentary confirmation of the calculation of the specified expenses per person). It was clarified that the restriction on making payments abroad within the limit of UAH 100,000 (equivalent) per month will not apply to the banks clients – legal entities carrying out cargo transportation in international connections. The European Business Association thanks the National Bank that some business proposals were heard because the adopted decisions were among other community proposals to the regulator. At the same time, the EBA community hopes that, over time, other restrictions on payments will be removed, particularly, regarding the use of payment cards.

In the context of business operations, the NBU allowed banks to sell foreign currency to legal entities and individual entrepreneurs who are residents of Ukraine with credit to the client’s current account in foreign currency and subsequent payment by corporate card:

for the travel of employees abroad exclusively for the payment of daily expenses within the daily limit of 80 euros (or equivalent) per employee;
for accommodation and transportation expenses (with documentary confirmation of the calculation of the specified expenses per person).

It was clarified that the restriction on making payments abroad within the limit of UAH 100,000 (equivalent) per month will not apply to the bank’s clients – legal entities carrying out cargo transportation in international connections.

The European Business Association thanks the National Bank that some business proposals were heard because the adopted decisions were among other community proposals to the regulator. At the same time, the EBA community hopes that, over time, other restrictions on payments will be removed, particularly, regarding the use of payment cards.