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    Uzbekistan

    CB proposes to limit commission amount when accepting utility payments

    CB proposes to limit commission amount when accepting utility payments

    The Central Bank of Uzbekistan (CB) proposes determining the commission's maximum size when making public payments for train tickets, plane tickets, utilities, public services, state duties, and other services. From May 1, the commission would be charged not from the payer but by deduction from the payment amount. 

    Nowadays, when paying for utilities at the banks' offices, consumers are charged a fee for the service. For example, when paying UZS 100,000 for electricity, some banks and payment services would charge mediation services.

    Under the presidential decree from May 1, 2023, commission payments (fees) for payment services rendered on costs, the beneficiaries of which are budget and corporate customers, will not be recovered from the payer - an individual, and by deduction from the price regardless of the form of payment.

    In this case, the amount of the commission will be determined up to 1% of the payment amount, but the total amount cannot exceed the limits set by the CB.

    According to the project, the Central Bank proposes to set a limit commission of not more than 20% of UZS 60,600. For example, if today, when paying for a super contract for UZS 200mn, some banks may charge 1% (UZS 2mn), then from May 1, the commission to be deducted from the payment amount would not exceed UZS 60,600.

    18.04.2023, 09:41   Comments (0)   1276
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