The National Bank of Ukraine brings good news to the citizens! The number of complaints about exchanging 'old' dollars for new banknotes has significantly decreased. Over the summer of 2023, the NBU took numerous measures that bore fruit – the number of inquiries is five times less, as officially reported.
To solve the problem, the National Bank conducted a series of actions. They improved the legal framework, canceled the list of characteristics of worn foreign banknotes, and launched an informational campaign for citizens and non-bank financial institutions. However, there are also problematic issues.
In 2024, the NBU conducted 150 inspections at exchange points of 17 non-bank financial institutions. Following this, penalties totaling UAH 5.65 million were issued among them.
The National Bank notes that the main problem may be in illegal exchange schemes in the shadow sector, where unlicensed institutions operate. Their activities require responses from law enforcement agencies.
It is noteworthy that according to the legislation, the exchange of dollars should be carried out without restrictions based on the year of issue or denomination. However, the most problems arise with operations involving banknotes of 100 dollars from the years of issue 1996, 2003, and 2006. The disinterest in accepting such banknotes is explained by outdated security features and low demand for them.
The question arises, what to do if you are refused an exchange? Banks have the right to refuse if the money is counterfeit or heavily worn. In case of problems, citizens have the right to file a complaint with the NBU.
The National Bank of Ukraine is actively addressing the problem of exchanging 'old' dollar banknotes for new ones, taking various measures and lifting restrictions. At the same time, there are issues with exchanging certain denominations and illegal exchange in the shadow sector that require attention and response from law enforcement agencies. If refused an exchange at banking institutions, citizens have the right to contact the NBU to resolve the conflict.