Kyrgyzstan cancels commissions for money transfers via mobile apps and Internet banking

Kyrgyzstan bans charging commissions for transfers via mobile apps, Kabar reports. 

The National Bank of the Kyrgyz Republic reported that today, November 25, 2024, the resolution officially comes into force, prohibiting commercial banks and payment organizations from charging fees from individual clients for money transfers via mobile apps and Internet banking until December 31, 2025. The ban applies to transfers in national currency within Kyrgyzstan.

These measures have been taken to increase non-cash payments, improve the availability of digital banking services, develop digital payment services and popularize the use of mobile applications.