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Finance 03/04/2018 From 1 April individuals can withdraw cash foreign currency from international cards
From 1 April individuals can withdraw cash foreign currency from international cards
Tashkent, Uzbekistan (UzDaily.com) -- Starting from 1 April 2018, individuals were granted the right to withdraw foreign currency in cash, purchased on international payment cards. This was reported by the press service of the Central Bank.

The regulator noted that the commercial banks of Uzbekistan have created all conditions for withdrawing cash through the cash desks of commercial banks, currency exchange offices and ATMs.

Currently, commercial banks are provided with appropriate terminals, which allow withdrawing funds from international payment cards of individuals for issuance of cash foreign currency.

Commercial banks will gradually increase the number of ATMs for withdrawing cash foreign currency, and by the end of this year more than 1,000 ATMs will be installed throughout the country.

It should be underlined that in accordance with the rules of international payment systems, when withdrawing cash from a card of one bank of other banks (at ATMs or payment terminals), an additional commission is charged (usually 1% of the withdrawn amount).

Commercial banks have also introduced remote management systems for individuals’ accounts since April, which provides for operations on the purchase and sale of foreign currency on international payment cards.

The National Bank of Uzbekistan for Foreign Economic Activity, Hamkorbank, Uzpromstroybank, Mortgage Bank, Agrobank, Orient Finance Bank, Asia Alliance Bank, Qishloq Qurilish Bank and Ipak Yuli Bank launched mobile applications, which allow buying and selling foreign currencies on international payment cards.

Mobile apps are available to users for download on Google Play and the AppStore. Other banks also create similar applications, launch of which will be announced.

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