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National Bank of Kyrgyzstan forbids fees for cashing from pensioners’ cards

The National Bank of Kyrgyzstan has banned commercial banks from charging a fee for cashing money from Elcard cards of pensioners and recipients of benefits. The relevant resolution was adopted by the Board of the National Bank of the Kyrgyz Republic.

Commercial banks can no longer charge a fee from a client during withdrawal of funds using Elcard bank payment cards through ATMs, cash points, POS-terminals and other peripheral devices. It doesn’t matter in which bank the client’s account is opened (pensioner, recipient of state benefits). A fee for each transaction conducted through POS-terminals as part of an agency agreement with Kyrgyz Pochtasy state enterprise is also prohibited.

Interbank Processing Center CJSC was also banned from charging fees from commercial banks for processing of payments on national Elcard cards of pensioners and recipients of state benefits.

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