Only employers are permitted to transfer money to payroll cards
The Ukrainians are banned to unrestrictedly use their payroll cards, including the student scholarship accounts, pension accounts, children’s allowance account, and other accounts for social security benefits, NBU’s letter No.25-110/55892 sent out through the banking system says, Vesti (Вести) reports.
In particular, the letter explains in case of a payroll or student scholarship card, it should be used as intended. No other card transactions. A cardholder cannot place other money on the said account (except the money received from an employer or higher education institution) or use it for money transfer.
As is explained, when resolving to introduce new restrictions, the NBU has not been governed by whim; it has fulfilled the requirements of a new version of the Tax Code that came into effect on August 1, 2014. This document introduces taxes on interest income received from deposits - 15% out of interest accrued by the banks. The notion “deposits” implies, according to the officials, all accounts, including current and card accounts. The exception is made for the accounts used for paying out salaries, scholarship, pensions, children’s allowance and other social security benefits. To discriminate between the said social security benefits and other transactions, the banks should not exceed the designated purpose of such accounts.
