The National Bank of Ukraine, from September 25, 2019, extends to banks the right to round up cash transaction amounts. This decision was made taking into account the proposal of the banking community in connection with the withdrawal from cash circulation of small denomination coins.
In particular, banks of Ukraine will be able to round up cash transaction amounts for each cash document in accordance with the grounds determined by the legislation of Ukraine, and according to the rules established by paragraph 4 of the resolution of the Board of the National Bank of Ukraine dated March 15, 2018 No. 25 “On optimization of circulation of small denomination coins”.
The results of rounding are other operational income/expenses of the bank.
The corresponding norms are contained in the resolution of the Board of the National Bank of Ukraine dated September 24, 2019 No. 117 “On amendments to the resolution of the Board of the National Bank of Ukraine dated June 20, 2019 No. 82”, which comes into force from September 25, 2019.
We remind you that from October 01, 2019, change coins of denominations 1, 2, and 5 kopiikas cease to be a means of payment. Therefore, all cash settlements must be carried out by banks in amounts that are multiples of the smallest denomination of monetary signs of the national currency in circulation – 10 kopiikas.
Background:
Rounding of total cash settlement amounts in a receipt for goods (works, services) is carried out according to the following rules:
an amount that ends with 1 to 4 kopiikas is rounded down to the nearest amount that ends with 0 kopiikas; an amount that ends with 5 to 9 kopiikas is rounded up to the nearest amount that ends with 0 kopiikas.
During non-cash settlements, rounding will not occur.
