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Uzbekistan allows to withdraw cash in foreign currency from bank cards

Business Materials 3 April 2018 16:23 (UTC +04:00)

Baku, Azerbaijan, April 3

By Fikret Dolukhanov – Trend:

A service for withdrawing cash money in foreign currency purchased on conversion bank cards of individuals has been launched in Uzbekistan, Uzbek media reported on April 3.

The corresponding presidential decree was adopted in the late March this year. The document stated that a mechanism for withdrawing cash money in foreign currency purchased by individuals to international payment cards should be introduced from April 1.

Uzbekistani citizens are able to withdraw cash money from their conversion cards now.

According to the information, the National Bank of Uzbekistan allows individuals to withdraw unlimited amount of money from a conversion bank card without interest rate, provided that the conversion card was opened in the NBU. Otherwise, three percent of the amount is withdrawn from the card. The same interest will be levied on non-residents of Uzbekistan. There are currently not enough ATMs of the NBU throughout the country, so cashing of the currency is mainly carried out through terminals in the bank's offices.

In case of Hamkor Bank, the operation is carried out with help of an employee in any branch office of the bank.

“We do not have a limit. If you have a card of our bank and you need to withdraw less than five thousand dollars, it can be done immediately and without any interest. If the amount exceeds five thousand dollars, it will be necessary to write an application and get permission in the head office of the bank,” representative of the bank said.

According to the adopted resolution, automated currency exchange terminals, operating 24 hours per day, should be installed throughout Uzbekistan until November 1, especially in places actively visited by travelers. Most of the exchange points are currently located in the branch offices of banks and operate from 9:00 to 18:00.

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Follow the author on Twitter: @FDolukhanov

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