Business urges to enable cash withdrawal at retail outlets

22/ 04/ 2020

Experts of the European Business Association consider it necessary to agree on amendments for a simplified registration order of cash withdrawal at retail outlets, and adopt them in the shortest possible time. The amendment should be made to the Regulation on Maintenance of Cash Transactions in the National Currency in Ukraine, approved by the Resolution of the NBU Board №148 of December 29, 2017. For a long time, the business community has been waiting for the implementation of announced amendments, which, however, was delayed by bureaucratic obstacles.

As of today, such transactions can be conducted only if the corresponding record is made in the accounting book of payments – CORO, but such a requirement is burdensome for business and prevents the further scaling of this service. Approval of the proposed amendments will make it possible for the holders of electronic payment means to make cash withdrawal transactions through the payment terminal at retail outlets. Previously, this possibility was legalized by the MPs with the adoption of Law №128-IX.

In the context of quarantine measures, such an initiative becomes more relevant as it is a convenient alternative way to receive pensions and other social payments with minimum contacts. Considering the importance of this issue, the EBA requests to accelerate the process of approval and adoption of amendments to the Resolution № 148, which will create new opportunities for cardholders to access the funds in their account.

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