of the Law of Ukraine ‘On Payment Services’ comes into force in the second half of this year».
The law stipulates that, when opening or closing a user’s account, a payment service provider is obliged to check whether the person in question is listed in the Unified of Debtors .
If there is information that the person is listed in this register , the payment service provider is obliged to notify the state enforcement service or private enforcement agent specified in the Unified of Debtors on the same day.
On this basis, the National Bank of Ukraine has drawn up Regulations on the procedure for payment service providers to report information regarding the opening or closing of user accounts listed in the Unified Register of Debtors to state enforcement authorities or private enforcement agents, approved by Resolution of the Board of the National of Ukraine dated 13 June 2022 No. , which comes into force on the date of entry into force of the Law of Ukraine “On Payment Services”.
It is provided that data exchange shall be carried out using an electronic information exchange service. Where there are technical reasons preventing such exchange, the payment service provider shall submit a notification to the executor in paper form.
The information provided in notifications in accordance with these Regulations constitutes banking secrecy and the confidentiality of the payment service provider.
