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National bank simplifies rules of international money transfers

Confirmation documents printed from the Internet are eligible to be provided to the bank by individuals-residents.

National bank simplifies rules of international money transfers

The National Bank of Ukraine (NBU) has simplified the system of currency transfer abroad for individuals-residents. In view of this, the NBU government approved the Resolution No. 123 on 29 February “On changes to the Rules of transfers within and outwards Ukraine by the current currency non-trade operations and their payments in Ukraine.” According to the NBU press service, the resolution is aimed at solving two problems.

“To have a single approach to conduct transfers outwards Ukraine, henceforth there has been fixed a precisely defined number of people regarded as “relatives”, the message says.

This concept embraces father, mother, step-father, step-mother, son, daughter, step-son, step-mother, grandmother, grandfather, great-grandmother, great-grandfather, grandchildren, great-grandchildren, brother, sister, cousins, uncle, aunt, niece, nephew, foster father, the adopted, husband, wife.

Secondly, the NBU has simplified the requirements to the confirmation documents to be provided by individuals-residents conducting transfers outwards Ukraine. From now on, confirmation documents printed prom the Internet are eligible to be provided to the bank.

Such a simplified order will conform to transfers outwards Ukraine for different purposes exceeding 15, 000 hryvnyas in the equivalent. Particularly, transfers for the following purposes: payment of health-care at medical institutions of another state, transportation of patients, education, acquisition of literature and signed editions, etc.

The Resolution comes into force as of 2 March, 2016.