of August 4, 2011 No. 11-227/3469-9226
Concerning implementation of cash transactions by banks in Ukraine
The National Bank of Ukraine considered your letter on provision of explanations concerning implementation by banks in Ukraine of separate cash transactions, and reports the following.
1. Concerning legitimacy of cash withdrawal of money from the card account in cash desk of bank the authorized representative without use of the payment card based on the power of attorney and with respect thereto need of registration of card with specimen signatures.
According to part 1 of Article 237 and part 1 of Article 238 of the Civil code of Ukraine (further - the Code) representation is legal relationship in which one party (representative) shall or has the right to make the legal transaction on behalf of the second party which it represents.
The representative can be authorized on making only of those legal transactions, the right to which making person whom he represents has. According to part 3 of article 244 of the Code the power of attorney is the written instrument which is issued by one person to other person for representation before the third parties.
According to Item 7.1 of Chapter 7 of the Instruction on procedure for opening, use and closing of accounts in national and foreign currencies approved by the resolution of Board of the National Bank of Ukraine of 12.11.2003 No. 492 (further - the Instruction), account transactions according to current accounts of physical persons are performed according to the order of the owner or according to its order based on the power of attorney (the copy of the power of attorney) certified notarially, and in the cases determined by the legislation of Ukraine - other representatives on it by persons. The power of attorney can be certified by the authorized employee of bank if it is constituted in bank (in the presence of the account holder and authorized representatives). Such power of attorney of additional certification does not require.
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