NBU to limit business entities' cash payments to individuals to 66.7%, to US$556

The National Bank of Ukraine (NBU) plans to reduce the maximum amount of business entities' cash payments to individuals by 66.7%, from UAH 50,000 (US$1,855) to UAH 15,000 ($556).

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The regulator also plans to limit cash settlements by authorized representatives of business entities, who receive money on condition of accountability, to UAH 15,000, the NBU said on its website, referring to a draft resolution made public for debates.

In addition, the central bank plans to oblige business entities, when withdrawing cash from current accounts, to provide, at the request of the bank, supporting documents for such cash settlements.

At the same time, the maximum amount set at UAH 50,000 in cash payments by individuals to business entities will remain unchanged.

In addition, cashless payments by business entities may be carried out without restrictions.

It is also reported that the NBU will be accepting comments and suggestions related to the project until March 27.

As UNIAN reported earlier, the National Bank in January 2017 cut the maximum amount of cash payments between individuals by 66.7%, to UAH 50,000.