Entrepreneurs in Uzbekistan have proposed a review of the fees that banks charge for depositing cash through ATMs. This issue was raised on September 29 during an open dialogue between the Central Bank and exporters.
Sherzod Kholmatov, director of Izobubble, noted that clients in the regions often pay for company goods in cash. To transfer these funds to the company's account, it is recommended to use an online ATM and enter the company's tax identification number. However, the bank charges a commission of 1% for this operation.
According to Kholmatov, this commission becomes significant with large payments. He cited an example of a client who needs to transfer 200 million soums to the company. With a 1% commission, the bank fee would amount to 2 million soums.
The entrepreneur expressed bewilderment regarding this fee, noting that clients ask: 'Who will pay the 1%?' and 'Why should I pay?'. Due to additional costs, some clients prefer to look for alternative ways to transfer money, including using taxis.
Kholmatov suggested that the Central Bank consider reducing this commission, arguing that when clients deposit funds themselves via an online ATM, the bank does not incur significant additional costs. The director of Izobubble added that he is not insisting on the complete abolition of the 1%, but believes logically that there are no costs involved here.
Abror Mirzo Olimov, Deputy Chairman of the Central Bank, explained that commercial banks are independent business entities, and the regulator has no right to set a specific commission for such transactions. Nevertheless, he emphasized that banks take into account the costs associated with ATM maintenance and rental, cash delivery and collection, as well as electricity and other related expenses when forming tariffs.
The Deputy Chairman of the Central Bank stated that he is unsure about the possibility of making the service free, and it is likely that the commission cannot be abolished. However, he promised to present a proposal on how this commission can be optimized. Thus, the issue of fees for cash deposits through ATMs can be considered from the perspective of optimizing charges, while the complete abolition of the commission is not yet being discussed.