NBU cuts maximum amount of cash payments for individuals by 67% from Jan 4

The maximum amount of cash payments for individuals from January 4, 2017 has been reduced by 67%, from UAH 150,000 to UAH 50,000, the National Bank of Ukraine (NBU) approved the corresponding changes by its decree No. 407 dated November 25, 2016, which has been posted on its website.

"The decree sets the maximum amount of cash payments between individuals and enterprises (entrepreneurs) within one day and payments between individuals under the contracts that are subject to notarization at UAH 50,000," the document reads.

According to the decree, individuals have the right to make payments in excess of UAH 50,000 by transferring funds from the current account to the current account, payment and/or transfer of funds to the current account.

The NBU noted the maximum amount of cash payments between enterprises (entrepreneurs) within one day remains unchanged and amounts to UAH 10,000.