Uzbek Banks Implement Minimum Balance Rule for Automatic Card Deductions
New regulations require banks to maintain a minimum balance of 1.236 million UZS on cards during automatic debt repayments.
In a significant move affecting digital payments and banking in Uzbekistan, a new rule has been introduced that prevents banks from completely withdrawing funds from customers' bank cards during automatic debt settlements. Effective from April 15, 2025, banks are mandated to maintain a minimum balance of 1,236,000 Uzbek soms on customers' cards when making automatic deductions related to loans, installment payments, and microloans.
Implications for Digital Banking and Payment Systems
The change, announced by the Uzcard payment system, specifically targets akseptsiz deductions—a process where funds are automatically withdrawn from a card without the customer's individual transaction approval. This mechanism is commonly used by banks and financial institutions to ensure timely repayment of obligations.
Under the new policy, even if customers have outstanding debts, banks can only withdraw funds exceeding the stipulated minimum balance. This measure protects customers from exhausting their card balances entirely, which can have direct implications for their ability to perform other digital transactions or payments.
"Banks will now preserve at least three times the base calculation amount on cards during automatic deductions, ensuring customers retain minimum funds for other payments," said a spokesperson from Uzcard.
The minimum balance corresponds to three times the base calculation amount, currently set at 1,236,000 UZS. This creates a buffer for users, preventing complete depletion of their funds through automated processes.
It's important to note that this limit applies solely to akseptsiz automatic deductions. If a customer personally authorizes a payment—such as via a one-time code or explicit confirmation—the bank is permitted to withdraw the full amount available on the card. These cases remain outside the scope of the new regulation.
Technically, payment systems have already implemented the necessary changes to enforce this rule. Several banks have started informing their clients about this adjustment to their account management and payment operations.
The new regulation reflects growing attention to consumer protection in Uzbekistan's rapidly evolving fintech ecosystem. By limiting automatic withdrawals to maintain a minimum balance, the banking sector aims to strike a balance between debt recovery and preserving customers' liquidity for everyday use.
Broader Context in Uzbekistan's Digital Economy
Uzbekistan's fintech and digital banking industries are experiencing rapid growth, with payment systems like Uzcard playing a central role. Enhancing security, transparency, and user control over funds is crucial as digital payment adoption increases. This regulatory update aligns with global trends emphasizing consumer rights and cybersecurity measures in digital financial services.
Moreover, this change may influence digital banking behaviors, encouraging users to maintain higher minimum balances and prompting banks to refine automated debit processes to comply with the new rules efficiently.
As Uzbekistan continues to expand its digital economy, such regulations contribute to building trust in fintech solutions while safeguarding users' financial stability.
