Ukraine has changed the rules for issuing bank cards
Updated rules for identifying and verifying bank customers have taken effect in Ukraine. The new regulations are intended to simplify access to banking services for people who have difficulty completing the standard procedure on their own.
The National Bank has authorized the use of additional methods of identity verification, including with the assistance of an accompanying person or a bank employee, in cases where a customer is unable to personally provide the necessary documents.
The National Bank of Ukraine has updated the rules for financial monitoring by banks, expanding the list of methods for identifying and verifying individuals. The relevant changes took effect on Friday, July 17.
These changes are intended to make banking services more accessible to people who, due to health conditions or other circumstances, cannot complete all verification procedures on their own.
Specifically, when verifying a customer’s identity, the original document may now be presented by an accompanying person or a representative, as well as by the bank employee conducting the verification, if the customer is physically unable to do so.
In addition, the NBU has permitted a client’s consent to be documented via audio or video recording for the purpose of photographing the client, if the person is unable to provide a handwritten or electronic signature.
The amendments also provide new opportunities for financial inclusion banks. From now on, they may engage commercial agents to identify the beneficial owner of a financial transaction, as well as to conduct customer identification and verification in accordance with legal requirements.
The National Bank notes that the updated rules take customer needs into account and will promote the development of financial inclusion in Ukraine.
This was reported with reference to the National Bank of Ukraine.
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