Foreign currency transfers from abroad to payment accounts will be credited only in hryvnias.

Non-bank payment service providers will no longer be able to hold foreign currency remittances from individuals abroad in foreign currency accounts—the funds will be automatically converted into hryvnia regardless of the transfer amount or the country of origin. This also applies to card-based receipts processed through international payment systems.

The customer does not choose the exchange rate: the bank’s foreign currency selling rate applies, as specified in the agreement between the bank and the non-bank payment service provider, – This requirement is introduced by NBU Resolution No. 106, which amended Regulation No. 2. If the provider has not entered into such an agreement or has not specified the exchange rate terms therein, it will not be able to credit the foreign currency deposit. The difference between the bank’s exchange rate and the market rate is borne by the recipient.

Card receipts from abroad via international payment systems are also converted into hryvnia, but only if the payer agrees to the conversion rate—which is fixed on the payer’s end and by the international payment system. This rule applies not only to individuals but also to legal entities and individual entrepreneurs who accept card payments from abroad.

The data on the payer and payee accompanying the transaction must now comply with the requirements of Law No. 361 on financial monitoring. If the data is insufficient, the risk extends beyond currency supervision—the transaction simultaneously violates financial monitoring requirements.

Payment service providers should review their agreements with their servicing banks and the exchange rate provisions therein immediately, update customer agreements and fee schedules regarding the disclosure of the credit exchange rate, and configure payment and acquiring flows so that the payer’s consent is received along with the transaction. Since payment accounts have been treated the same as current bank accounts in this regard, the same rules now apply to them, and individuals’ multicurrency accounts retain their foreign currency functionality only for incoming transfers from abroad.