Commission on Dollar Exchange: NBU Explained Whether Exchange Offices and Banks Can Charge a Fee for 'Old' Notes.

Ukrainians Were Reminded of the Rules for Exchanging 'Old' Dollars.

In 2023, the number of complaints against banks and exchange points decreased more than fivefold thanks to the National Bank's efforts to address the issue of exchanging damaged and worn banknotes.

In 2024, inspections were conducted at 150 exchange points, where violations were recorded. The National Bank imposed fines totaling UAH 5.65 million.

Currently, the National Bank receives no more than 10 inquiries per month regarding the exchange of foreign currency banknotes.

A new problem has arisen - the exchange of old issues of US dollars. Currency exchange points have begun to charge a 10% commission for exchanging banknotes issued before 2006. This creates additional difficulties for the owners of such banknotes.

'The problem may lie in the shadow sector, where institutions operate without NBU licenses. The only method to combat them is to engage law enforcement,' the National Bank stated.

The National Bank calls on citizens to report all violations in the currency exchange sphere, specifically mentioning the name and address of the institution. The NBU will impose fines for violations and pass information to law enforcement to cease illegal activities.

Five rules have also been named that should be known when exchanging foreign currency:

• banknotes that have passed verification are accepted without exception;
• it is forbidden to refuse to exchange banknotes that comply with the samples of foreign central banks;
• it is forbidden to restrict exchanges by denomination and year of issue of banknotes that are legal tender;
• cash operations are carried out with banknotes that have sufficient wear;
• if there is a refusal to accept currency that meets established standards, one can contact the NBU.

Ukraine has changed its approach to exchanging dollars.