Cash-in-transit license in Ukraine
Cost of services
Reviews of our Clients
... our work on joint projects assured us of your high level of professionalism
What we offer
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we advise on obtaining a license to provide collection services;
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form a package of documents required to obtain a license for collection;
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we accompany the consideration of the application and the package of documents in the National Bank of Ukraine;
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provide details to make official payments for the license application;
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obtain an extract from the License Register and transfer it to the Client;
- provide assistance in expanding the Client’s activities related to cash processing and storage.
By additional agreement:
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develop the provisions, structure and other internal documents stipulated by the license conditions;
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we help with obtaining certificates of criminal record, a document on credit history, etc.
Required documents
In addition to submitting paper documents, the applicant must submit copies of these documents in electronic form (on CD / USB flash drive / by e-mail).
Amount of payments as of August 2020
- Fee for reviewing documents needed to obtain a license to provide banks with cash-and-valuables-in-transit services. VAT excluded UAH 39,820
- Fee for reviewing documents for approval of processing and storage of cash. VAT excluded UAH 32,130
The cost of services depends on the following factors:
- whether it will be necessary to receive reports from the credit reporting agency;
- whether it will be necessary to receive an extract from the register of cash-and-valuables-in-transit licenses;
- whether it will be necessary to develop a regulation on the cash-in-transit unit and job descriptions for employees of such a unit, etc.
Why us
We are ready to help you!
Contact us by mail [email protected] or by filling out the form:The company, wishing to obtain the license to provide cash-and-valuables-in-transit services, must have at least UAH 1 million on its bank account.
Together with a package of documents for obtaining the license to provide cash-and-valuables-in-transit services, the applicant must provide a receipt of the payment of official fee for the consideration of documents.
Failure to submit this document is the basis for the NBU to return the documents for revision.
The NBU has the right to demand other documents and data, if it is necessary for making a decision on granting a license.
Answers to frequently asked questions
Within 30 working days from the day the NBU has received a full package of documents.
No, it is not A license form is not issued. A paper confirmation of a license is an extract from the electronic register of licenses.
Yes, it can. For this purpose the licensee shall notify the National Bank at least 15 business days prior to the start of using the trade name / brand name.
Yes.
The director of a legal entity shall have: higher education (degree of higher education must not be lower than Master’s degree), work experience in managerial positions must be five years and more.
The head of the legal entity’s department of cash-and-valuables-in-transit services must have:
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higher education (degree of higher education must not be lower than Master’s degree);
at least three years’ experience in managerial positions in law enforcement agencies and other military units;
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to be trained in the organization of cash-and-valuables-in-transit services.
The license to provide cash-and-valuables-in-transit services to banks gives the right to take out excess cash from bank branches, deliver cash between banks, carry out collection of ATMs, currency exchange offices and the like.
The license may be obtained by a legal entity of any type (except financial institutions), which meets the following requirements:
- The company must have a transparent ownership structure;
- The licensee, as well as the owners and managers of the legal entity must have an impeccable business reputation;
- The company must have a material and technical base and professional staff to ensure encashment;
- The company must have a properly organized process of protecting the storage of cash and employees;
- Satisfactory financial condition.
It should be understood that these are common requirements, each of which consists of hundreds of nuances and indicators that the license applicant must meet. For example, satisfactory financial condition shall be understood as:
- Availability of own capital in the amount of at least 2 million hryvnia (for obtaining the approval for cash processing and storage - in the amount of at least 3 million hryvnia)
- Availability of funds in sufficient amount to cover expenses associated with business activity, but not less than 1 million hryvnia (for obtaining the approval - not less than 1.5 million hryvnia)
- the value of net assets of a legal entity must not be less than the authorised share capital of the legal entity.
If you want to have a cash-and-valuables-in-transit license issued for you or learn more about the process - give us a call!
