The National Bank of Ukraine(NBU) sets in its Board Resolution No. 407 to lower the upper threshold for settlement of payments in cash for individuals from UAH 150,000 to UAH 50,000 000 per one business day.
On the official website NBU explains that setting an upper limit on cash payments will ensure regular cash supplies to the banking system and narrow the use of cash.
“The aforementioned resolution sets an upper limit for settlement of payments in cash at UAH 50,000 per one business day between individuals and enterprises (sole proprietors) and between individuals under purchase-sale agreements that are subject to notarisation.”
“Individuals are allowed to make cash payments exceeding UAH 50,000 by transferring funds from one current account to another one, depositing and/or transferring funds to current accounts, including notary’s deposit account, or separate current account in domestic currency,”states NBU.