Currently, youth aged 14 to 18 can open a personal bank card in their own name.
The Ministry of Justice registered an order with the state register that establishes new regulations for the issuance and circulation of bank cards. With the new document, the types of bank cards have been expanded.
Currently:
Business bank card — provides individual entrepreneurs and self-employed individuals with the ability to manage funds in their account;
Social bank card — is intended for receiving various social payments and pensions.
Additionally, the procedure for issuing pre-issued bank cards and activating them via mobile applications, having identified the user, has been introduced.
The most important innovation — minors aged 14 to 18 can now independently open a personal bank card. Children under 14 can obtain a bank card based on the written consent of their parents or legal representatives.
Furthermore, according to the new procedure, the possibility has been created for legal entities to make payments for drinking water and wastewater services via corporate bank cards.
According to recent research by the Central Bank, although the rate of cash usage among the population varies by region, interest in electronic payments is increasing every year.
