From June 26, new rules for operating payment terminals have come into force in Ukraine. The country's National Bank has tightened requirements for cash deposit operations, focusing on strengthening control and the security of financial transactions.
Mandatory verification via phone
According to the new decree, to confirm operations for topping up accounts or transferring funds via self-service terminals, a mobile phone number must now be provided. The verification procedure has become two-step: after entering the number, a one-time password is sent to it. The code can be received either via SMS or through an automated phone call.
Furthermore, the reporting format has changed. In the receipts issued as a result of such operations, the payer's full mobile phone number will now be indicated. This innovation is intended to increase the transparency of financial flows.
Exceptions and limits
Despite the tightened control, the regulator has provided for exceptions that allow operations to be conducted without additional authorization. In particular, a mobile account can be topped up without confirmation for an amount of up to 500 hryvnias per month for one phone number. Once this limit is exceeded, the confirmation procedure becomes mandatory.
Context of changes
These measures come into force against the backdrop of a general review of financial processes in the country. It was previously reported that major market players, such as Monobank, are also changing their tariff grids. For example, the bank has cancelled fees for all foreign SWIFT transfers for both individuals and businesses. According to the bank's co-founder, Oleg Gorokhovsky, the fee for such operations previously averaged around 1000 hryvnias.