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07.09.2018

Regulation on the Activity of Foreign Exchange Entities, approved by the approved by the EB Decision no.335 of December 1, 2016

 

Note: The translation is unofficial, for information purpose only

Official Monitor of the Republic of Moldova no.423-429 of December 9, 2016, art. 2096


NATIONAL BANK OF MOLDOVA
EXECUTIVE BOARD

DECISION no.335
of December 1, 2016

REGISTERED:
Ministry of Justice
of the Republic of Moldova
no. 1156 of December 6, 2016
Minister_Vladimir CEBOTARI

Approving the Regulation on the Activity of Foreign Exchange Entities

Pursuant to art.5 par. (1) letter l), art.11 par.(1), art. 27 par. (1) letter c) and art. 51 letters a) and b) of Law on the National Bank of Moldova no. 548-XIII of July 21, 1995 (republished in the Official Monitor of the Republic of Moldova, 2015 no.297-300, art.544), with further amendments and completions, art.4 par.(12), Chapter V of the Law on foreign exchange regulation no.62-XVI of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008, 127-130, Art. 496) with further amendments and completions, Executive Board of the National Bank of Moldova
(Issuance clause modified by the Decision of the NBM no.203 of 09.08.2018)

DECIDES:

1. To approve the Regulation on the Activity of Foreign Exchange Entities, according to the Annex to this Decision.

2. This Decision shall enter into force on December 10, 2016.


Chairman of the Executive Board
Sergiu Cioclea 


Approved
by the Decision of the Executive Board
of the National Bank of Moldova
no.335 of December 1, 2016
Regulation
on the Activity of Foreign Exchange Entities

Amended by:
Decision of the Executive Board of the NBM no.203 of 09.08.2018, Official Monitor of the Republic of Moldova no. 321-332 of 24.08.2018, art. 1314;
Decision of the Executive Board of the NBM no.143 of 02.06.2017, Official Monitor of the Republic of Moldova no. 190-200 of 16.06.2017, art.1164.


Chapter I. General Provisions

1. This Regulation shall use notions defined in the Law on foreign exchange regulation no.62-XVI of March 21, 2008 (Official Monitor of the Republic of Moldova, 2008, 127-130, Art. 496), with further modifications and completions (hereinafter - Law no.62-XVI of March 21, 2008) and in the Regulation on Licensing, Control and Sanctioning of Foreign Exchange Entities, approved by the Decision of the Executive Board of the National Bank of Moldova no.304 of November 10, 2016.

2. This Regulation establishes the following:
a) the specific requirements related to the information displayed by the foreign exchange entities;
b) some aspects related to the exchange rates and fees that apply to foreign exchange operations in cash with individuals;
c) the operations of the foreign exchange entities within currency exchange activity in cash with individuals;
d)  the way of performing the foreign exchange operations in cash with individuals.

3. Foreign exchange entities shall perform the currency exchange activity in cash with individuals in accordance with the provisions of the Law no.62-XVI of March 21, 2008, taking into account the specific requirements established in this Regulation.

4. In cases provided for in art.421 par. (2) letter c) and par. (3) letter f) of the Law no.62-XVI of March 21, 2008, the equivalent amount in another currency shall be determined by applying the official exchange rate of Moldovan Leu, against foreign currencies, valid at the time of performing the foreign exchange operation.
(Item 4 modified by the Decision of the NBM no.203 of 09.08.2018)


Chapter II. The specific requirements related to the information displayed by the foreign exchange entities

Section 1. Displaying information in case of performing operations through counters

5. Inside the foreign exchange entity’s office, where the foreign exchange operations in cash with individuals are directly performed through counter/counters, the following documents/information shall be displayed in a visible place for individuals: 
a) copy of the license of the foreign exchange office/hotel and in the case of the branch of the foreign exchange office - the authorized copy of the license on the basis of which the currency exchange activity shall be performed. The respective copy shall be authenticated by the administrator of the foreign exchange office/hotel or the person empowered by him/her. The respective copies shall be displayed by the licensed banks according to the Regulation on the Disclosure by Moldovan Banks of the Information on their Activities, approved by the Decision of the Council of Administration of the National Bank of Moldova no.52 of March 20, 2014 (Official Monitor of the Republic Moldova, 2014, no.110-114, art.596);
b) the current work program of the foreign exchange entity;
c) the information on mandatory payment which is levied from individuals according to the Law on Republican Fund and Local Funds for Social Support of the Population no.827-XIV of February 18, 2000;
d) the order on the current buying and selling rates (the order on the exchange rates) for performing of foreign exchange operations in cash with individuals drawn up in accordance with the requirements established in Chapter III;
e) the order on the current fees applied while performing foreign exchange operations in cash with individuals drawn up in accordance with the requirements established in Chapter III;
f) banknotes payability criteria according to Annex no.1;
g) the information for customers (advertisement) with the following content:

IMPORTANT INFORMATION FOR THE CUSTOMER:
- Before performing the foreign exchange operation, get informed about the exchange rate at which the foreign exchange operation is performed, the size of fees and mandatory payment applied, as well as the amount of money you will actually receive.
- The foreign exchange entity must issue your cash voucher or, depending on the case, another documents provided for by fiscal legislation (payment receipt), which cannot be substituted by the currency exchange bulletin.
- You have the right to request the revocation of the foreign exchange operation until its completion, as well as within 30 minutes after its completion, if the following conditions are met simultaneously:  the buying /selling rate of the purchased/sold foreign currency has not changed during the specified period and the revocation request was made at least 30 minutes prior to the completion of the foreign exchange entity’s work program.  The revocation of foreign exchange operation after its completion shall be based on a written request of the customer, with the attached cash voucher or other document provided for by the fiscal legislation (payment receipt).
- In case of certain complaints, objections or proposals related to the activity of the foreign exchange entity, you may submit, according to legislation, a petition to the National Bank of Moldova at the address: 1 Grigore Vieru Avenue, MD-2005, m.Chisinau.
- For information on the activity of the foreign exchange entity you can contact to the National Bank of Moldova at the phone number 022 822 502 (the telephone conversations are recorded automatically)
”.
(Item 5 modified by the Decision of the NBM no.143 of 02.06.2017)

6. The information on the established exchange rates and the information on the fees applied at performing of the foreign exchange operations in cash with individuals shall also be displayed on the billboard, in compliance with the requirements set out in art.43 par. (13) - (15) of the Law no.62-XVI of March 21, 2008.

7. Exchange rates displayed on the billboard shall correspond to the exchange rates established by the order on exchange rates for performing foreign exchange operations in cash with individuals (which is in force during its work program), according to the provisions of art. 43 par. (81) of the Law no.62-XVI of March 21, 2008. This provision shall be applied accordingly and related to the information on the fees charged by foreign exchange entities.

8. On the billboard  the decimal marks shall be separated from the integer by a distinct space, or by a comma, or point. The number of decimals in the buying rates of foreign currencies shall be equal to the number of decimals in the selling rates of respective foreign currencies. All digits must be fully visible without overlapping, including partial overlapping.

9. The information on the billboard, as provided for by items 6-8, as well as the provisions indicated in item 5 letters d) and e) is displayed before beginning of performance of foreign exchange operations in cash with individuals. If during its work program the foreign exchange entity changes the buying and selling rates, it must display the relevant orders and information, until beginning of the performing the operations with the newly established rates. The respective information is displayed throughout the work program of the foreign exchange entity.

Section 2. Displaying information in case of performing operations
via currency exchange machine

10. The foreign exchange entity must display the following information on the currency exchange machine body, in a visible place for individuals:
a) identification and contact data of the foreign exchange entity (name, legal form of organization, registered office, IDNO, phone numbers of the foreign exchange entity);
b) contact data of the National Bank of Moldova where complaints on foreign exchange operations may be submitted in accordance with legislation (1 Grigore Vieru Avenue, MD-2005, m.Chișinău) and the phone number of the National Bank of Moldova at which the individual can appeal and get information concerning currency exchange activity (022 228 642), the phone calls being automatically recorded.

11. The foreign exchange entity ensures displaying on the screen of the currency exchange machine at least the information stipulated in art.421 par. (3) letters b) and h) of the Law no.62-XVI of March 21, 2008, in compliance with the requirements of art.43 par. (14) and (15) of the mentioned law.

12. The exchange rates displayed on the screen of the currency exchange machine shall correspond to the selling and buying rates established by the order on exchange rates for performing operations via the currency exchange machine (which is in force during the work program), complying to the provisions of art.43 par. (81) of the Law no.62-XVI of March 21, 2008. This provision shall be applied accordingly to information on the fees applied by the foreign exchange entity while performing operations via the currency exchange machine.

13. Upon displaying exchange rates on the screen of the machine, separation of decimal digits from the integer number is made through a distinct space or by comma, or dot. The number of decimal digits related to the buying rates of foreign currencies must be equal to the number of decimal digits related to the selling rates of respective foreign currencies.


Chapter III. Exchange rates and fees

Section 1. General Provisions

14. The foreign exchange entity shall establish independently the foreign currencies which will be traded within foreign exchange operations in cash with individuals, against which it sets exchange rates, in order to perform the specified operations.

15. The foreign exchange entity sets exchange rates for performance of foreign exchange operations in cash with individuals, as well as fees charged to these operations, by respective orders of the administrator of the foreign exchange entity or of his empowered person, which shall be drawn up in compliance with the requirements established by this chapter.

16. Any modification, during the work program, of exchange rates is carried out by issuing a new order mentioned in item 18. The concerned order sets the exchange rates that will be applicable as of the hour indicated therein. The order indicates both the modified exchange rates, as well as those which were not modified. As of the hour of starting application of new established exchange rates, the previous order shall be considered invalid and shall be kept during the work program inside the premises where foreign exchange operations in cash with individuals are directly performed.

17. Upon establishing the exchange rates for performing foreign exchange operations in cash with individuals as well as while drawing up the order on the respective rates and of the order on fees charged at performing operations concerned, the foreign exchange entity shall follow the provisions of art. 43 par. (1) - (8), (16) of the Law no.62-XVI of March 21, 2008, of Decision of the Executive Board of the National Bank of Moldova no.295 of October 27, 2016 “On  frequency of exchange rates modification by foreign exchange entities” (Official Monitor of the Republic of Moldova, 2016, nr.388-398, art.1941), of this Regulation as well as depending on the case its internal procedures according to the art.43 par. (91) of the Law no.62-XVI of March 21, 2008 which regulates the modality of modifying during the work program of exchange rates.

Section 2. Requirements related to drawing up of orders
on exchange rates and fees

18. The order on exchange rates for performing foreign exchange operations in cash with individuals shall include at least the following:
1) the number and the issue date of the order;
2) full name of the licensed bank / foreign exchange office / hotel. Additionally, shall be indicated:
a) in case of the foreign exchange bureau that is opened within the branch / secondary office of the licensed bank, the name of the branch / secondary office;
b) in case of the branch of the foreign exchange office – its name;
c) in case of the currency exchange machine- the registration number of the currency exchange machine at the fiscal authority;
3) the address of the foreign exchange bureau of the licensed bank / foreign exchange office / its branch / foreign exchange bureau of the hotel / the address of installation of the currency exchange machine of the licensed bank /foreign exchange office /hotel;
4) the date (period) for which the exchange rates are established;
5) the hour (hours and minutes) as of which exchange rates are applicable for carrying out operations with individuals;
6) the name and code (numeric or alphabetic) of the traded foreign currency, in accordance with ISO 4217 “Codes for representation of currencies and funds”. The number of decimal digits related to the buying rates of foreign currencies shall be equal to the number of decimal digits related to the selling rates of respective foreign currencies;
7) the quantity of quoted units and the exchange rates of these foreign currencies against national currency, with compliance of the provisions of art. 43 par. (81) of the Law no.62-XVI of March 21, 2008.

19. The order on fees applied while performing foreign exchange operations in cash with individuals shall include at least the following:
1) the number and issue date of the order;
2) the full name of the licensed bank / foreign exchange office/hotel. Additionally, shall be indicated:
a) in case of foreign exchange bureau that is opened within the branch / secondary office of the licensed bank, the name of the respective branch / secondary office;
b) in case of branch of the foreign exchange office – its name;  
c) in case of a currency exchange machine - the registration number of the currency exchange machine at the fiscal authority;
3)  the address of the foreign exchange bureau of the licensed bank /foreign exchange office / its branch / the foreign exchange bureau of the hotel / the address of installation of the currency exchange machines of the licensed bank / of the foreign exchange office / hotel;
4) the date and, if applicable, the hour (hour and minutes) when the established fees become applicable;
5) the name of the fees and their size.

20. The orders specified in the items 18 and 19 may be drawn up by a single order, respecting the requirements indicated in the items therein.

21. In the event when, according to the internal regulations of the licensed bank/foreign exchange office, the order specified in the item 18 issues centrally and the exchange rates indicated therein are subject to the application by all foreign exchange bureaux of the licensed bank / branches of the foreign exchange office, may be drawn up one single order per foreign exchange entity. In this case, in the mentioned order the information specified in item 18 sub-item 2) letters a) and b) and in sub-item 3) may not be reflected, but shall be indicated that the exchange rates of the order therein shall be applied by all foreign exchange bureaux of the licensed bank/branches of the foreign exchange office. This provision shall be applied accordingly and to the order on fees charged by the foreign exchange entity.

22. The orders specified in the items 18 and 19 shall be worked out in a single copy. Depending on the case, several copies of orders thereof may be worked out, which must be identical. All copies of the orders shall be signed by the administrator of the foreign exchange office / its branch/ hotel / licensed bank/ branch / secondary office thereof in which the foreign exchange bureau is opened or by the person empowered by him/her.

23. The orders specified in the items 18 and 19 may be signed (authenticated) by applying the qualified advanced electronic signature of the administrator or the person empowered by him/her, in accordance with the requirements of the law on electronic document and electronic signature. The representation (conveying) on a paper of the electronic order (copy of the electronic order) to be displayed in a visible place for individuals shall be authenticated by handwritten signature of the empowered person (who shall ensure the correctness of the information), as well as shall specify that it is a copy of the electronic document.

24. In the even when, according to the internal regulations of the licensed bank / foreign exchange office, exchange rates, fees for foreign exchange operations, which are performed by the foreign exchange bureaux of the licensed bank/ branches of the foreign exchange office, are established centrally, the orders specified in items 18 and 19 shall be sent by fax or scanned, by email to the branches / secondary offices of the licensed bank / respective branches of the foreign exchange office or the information from the respective orders shall be introduced in the informational system of the licensed bank / foreign exchange office.

25. In the case referred to in the item 24, on receipt of the orders via fax or email, a photocopy of the received documents shall be made and the person responsible for the activity of the respective subdivision of foreign exchange entity or the person empowered by him/her shall certify the specimens of received orders by his/her signature. In case of receipt of the order drawn up in accordance with the item 21, the respective person shall additionally reflect on the received photocopies of orders the information specified in item 18, sub-item 2) letters a) and b) and in sub-item 3) / item 19 sub-item 2) letters a) and b) and in sub-item 3), which is relevant for the respective subdivision.

26. In the case indicated in the item 24, on receipt of the information from the respective orders through the informational system of the licensed bank / foreign exchange office, in the respective subdivision of the foreign exchange entity the orders shall be worked out in accordance with the provisions of the item 22.

27. The foreign exchange entity shall ensure, in the manner established by it, that foreign exchange operations are performed via currency exchange machines using the exchange rates and fees that are set in the orders indicated in items 18 and 19 and that they are applied starting with the hour indicated in respective orders.

Section 3. The records of orders on exchange rates and fees

28. The foreign exchange entity shall keep records of the orders referred to in items 18 and 19 and shall ensure the storage of these. The mode of keeping records and storing the orders shall be established by the foreign exchange entity in accordance with the legislation in force, taking into account the peculiarities specified in item 29.

29. The records of the orders specified in items 18 and 19 shall be kept:
1) by each subdivision which, according to the internal regulations, has the right to establish independently the exchange rates/applicable fees;
2) on a device that allows the storage of information in a way accessible for the foreign exchange control authorities, upon their request, and in a form and a manner that ensure compliance with the following requirements:
a) reliable and correct records of the orders;
b) easy finding of any correction or other changes, as well as of the records’ content before the respective corrections and amendments;
c) manipulation or alteration of the records’ content shall be impossible.


Chapter IV. The operations of foreign exchange entities within currency exchange activity in cash with individuals

Section 1. The foreign exchange operations in cash with individuals

30. The foreign exchange operations in cash with individuals shall include the following operations:
a) purchase operations of foreign currency in cash against Moldovan Lei in cash;
b) purchase operations of traveller’s cheques in foreign currency against Moldovan Lei in cash;
c) sale operations of foreign currency in cash against Moldovan Lei in cash;
d) sale operations of traveller’s cheques in foreign currency against Moldovan Lei in cash;
e) purchase/sale operation of foreign currency in cash against other foreign currency in cash;
f) purchase/sale operations of foreign currency in cash against traveller’s cheques in other foreign currency;
g) purchase/sale operations of traveller’s cheques in foreign currency against other foreign currency in cash;
h) purchase/sale operations of traveller’s cheques in foreign currency against traveller’s cheques in other foreign currency.

31. The purchase/sale operations specified in item 30 letters e) - h) shall be made with individuals by performing simultaneously the operation of purchase of a foreign currency against Moldovan Lei and the operation of sale of other foreign currency against Moldovan Lei.

32. The purchase/sale operations specified in item 30 letters a), c) and e) may be performed through counters of the foreign exchange entity and/or through its currency exchange machine.

33. The purchase/sale operations of traveller’s cheques in foreign currency shall be performed through the counters of the foreign exchange entity in accordance with the provisions of the agreement concluded between the foreign exchange entity and the issuer of the cheques or other legal entity with the view of performing the traveller’s cheques operations.

Section 2. The operations performed by the foreign exchange office

34. Within the currency exchange activity in cash with individuals, the foreign exchange office may perform the following operations:
a) foreign exchange operations in cash with individuals specified in Section 1 of this chapter;
b) the depositing on its accounts, including on its branches’ accounts, if exists, opened with licensed banks, of obtained funds following the performance of foreign exchange operations in cash with individuals;
c) the withdrawal from its accounts, including from its branches’ accounts, if exists, opened with licensed banks, of funds for performing foreign exchange operations in cash with individuals;
d) the transmission of funds between the branch and the head office of the foreign exchange office or to other branch;
e) the transmission of funds from the head office and/or from the branch of the foreign exchange office for replenishment of currency exchange machines;
f) the receipt of funds by the head office and/or by the branch of the foreign exchange office withdrawn from currency exchange machines;
g) purchase operations of foreign currency with the licensed bank to be subsequently sold to individuals;
h) sale operations of foreign currency with the licensed bank received following the foreign exchange operations in cash with individuals.
i) the operations of funds reimbursement as a result of revocation of foreign exchange operations by individuals.

35. The operations referred to in item 34 letters g) and h) shall be carried out through the accounts of the foreign exchange office, including the accounts of its branches, if exists, opened with licensed banks.

Section 3. The operations performed by the hotel

36. Within the currency exchange activity in cash with individuals, the hotel may perform the following operations:
a) foreign exchange operations in cash with individuals specified in item 30 letters a) and b);
b) the transmission from the cashier’s office of the hotel of the funds necessary for replenishment of the foreign exchange bureau and/or the currency exchange machines;
c) the receipt by the cashier’s office of the hotel of funds from the foreign exchange office and/or of funds withdrawn from currency exchange machines;
d) the depositing on its accounts opened with the licensed banks of obtained funds following the performance of foreign exchange operations in cash with individuals;
e)  reimbursement  as a result of revocation of foreign exchange operations by individuals.

Section 4. The operations performed by the licensed bank

37. The licensed bank may perform foreign exchange operations in cash with individuals stipulated in Section 1 of this chapter.

38. Under the Law no.62-XVI of March 21, 2008, the licensed bank performs the operations of the funds reimbursement as a result of revocation of foreign exchange operations by individuals.

39. The licensed bank shall keep records of the foreign exchange operations in cash with individuals separately from other operations carried out by it.


Chapter V. Performing foreign exchange operations in cash with individuals

Section 1. General Provisions

40. The foreign exchange entity shall perform foreign exchange operations in cash with individuals in compliance with the relevant provisions of art.41 - 46 of the Law no.62-XVI of March 21, 2008.

41. Within performing foreign exchange operations in cash with individuals the foreign exchange entity shall ensure:
a) endowing at the beginning  and, if necessary, during the work program, of counters and of currency exchange machines with funds in Moldovan Lei and foreign currency in order to meet customers’ requests of buying and of selling foreign currency;
b)  performing the foreign exchange operations in cash with individuals with application of exchange rates, which are in force at the moment of individual’s request, in accordance with the order on exchange rates;
c) registration all of foreign exchange operations carried out at the cash control machine or, where appropriate, in the registration systems of the operations in cash according to fiscal legislation requirements, as well as the registration in established cases, of carried out foreign exchange operations in the registers provided for in this Regulation;
d) obligatory issuance to an individual of cash voucher or of another document provided for by fiscal legislation, and in the cases stipulated by this Regulation, and of the currency exchange bulletin;
(Letter e) repealed by the Decision of the NBM no.203 of 09.08.2018)

f) reimbursement to the individuals of the funds as a result of revocation by them of the foreign exchange operations, in accordance with provisions of art.42 par. (61) and (62) of the Law no.62-XVI of March 21, 2008;
g) the aggregation of performed foreign exchange operations;
h) the verification of the authenticity of banknotes in foreign currency or in national currency and of the traveller’s cheques in foreign currency received from the individual, acting in accordance with the in force legislation in case of identifying the values that are suspected of being false;
i) keeping at the foreign exchange entity in manner established by it according to legislation, of the documents obtained/drawn up within currency exchange activity in cash with individuals;
(Letter i) modified by the Decision of the NBM no.203 of 09.08.2018)

j) performing foreign exchange operations in cash only with customers who are individuals;
k) the implementation of other requirements provided for by this Regulation.
(Item 41 modified by the Decision of the NBM no.203 of 09.08.2018)

42. Upon the performance of foreign exchange operations in cash with individuals, the foreign exchange entity shall have and use, if applicable, the forms (on paper and/or, in electronic form) established by this Regulation, of the following documents:
a) the currency exchange bulletin;
b) the report on performed operations;
c) the register on purchase operations of foreign currency;
d) the register on sale operations of foreign currency;

(Letter e) repealed by the Decision of the NBM no.203 of 09.08.2018) 

f) the register of the revoked foreign exchange operations;
g) the application for revocation of the foreign exchange operation.
(Item 42 modified by the Decision of the NBM no.203 of 09.08.2018)

43. If the foreign exchange entity uses the forms of reports and of registers indicated in item 42 letters b) - f) in electronic form only, it shall ensure compliance with the law on electronic signature and electronic document.

44. The foreign exchange entity is entitled to introduce the additional information and columns in the documents’ forms specified in item 42.

(Section 2 repealed by the Decision of the NBM no.203 of 09.08.2018)

Section 3. The registration of the operations performed through counter

55. The foreign exchange entity shall be obliged to record every foreign exchange operation at the moment of its performing in the cash control machine and shall print the cash voucher with the reflection of its elements on the control machine’s tape in accordance with the requirements of the fiscal legislation.

56. The cash voucher shall be handed over to the customer along with the funds.

57. In addition to the cash voucher, the foreign exchange entity shall fill in the currency exchange bulletin in the event that:
(Letter a) repealed by the Decision of the NBM no.203 of 09.08.2018)

b) the cash control machine cannot ensure the printing of all the elements provided for by the law in force (including the mandatory payment and fees) on the cash voucher; and /or
c) at customer’s request upon presentation of his/her identity document.
(Item 57 modified by the Decision of the NBM no.203 of 09.08.2018)

58. The currency exchange bulletin does not replace the cash voucher and without this voucher is invalid.

59. The data in the currency exchange bulletin must coincide with the data contained in the cash voucher.

60. The currency exchange bulletin shall be drawn up in two copies, in accordance with Annex No. 2.

61. Once filled in, both copies of the currency exchange bulletin shall be signed by the employee of foreign exchange entity and its customer. By the signature, the customer confirms the reception of the funds,  the first copy of the currency exchange bulletin, as well as the veracity of the information about the customer and, depending on the case, about the beneficial owner, indicated in the currency exchange bulletin (if this information is indicated).

62. The first copy of the currency exchange bulletin shall be attached to the cash voucher and the second copy shall remain at the foreign exchange entity.

63. In the cases specified in item 57 the cash voucher with the attached currency exchange bulletin shall be handed over to the customer along with the funds.

64. Erasures and corrections on the cash vouchers and on the currency exchange bulletins are not allowed.

65. In the cases and conditions provided for by the fiscal legislation, instead of the cash voucher, the foreign exchange entity issues the payment receipt, which reflects the same data as the cash voucher, including the hour and minutes of the performing operation. In this case, in the currency exchange bulletin and in the registers provided for by this Regulation shall be reflected the data related to the payment receipt.

66. The foreign exchange entity shall register every foreign exchange operation in cash with individuals at the moment of its performance in the separate registers, namely:
a) the register of the purchase operations of foreign currency in cash and of traveller’s cheques in foreign currency against Moldovan Lei in cash (the register of purchase operations of foreign currency, according to Annex no. 3);
b) the register of the  sale operations of foreign currency in cash and of traveller’s cheques in foreign currency against Moldovan Lei in cash (the register of sale operations of foreign currency, according to Annex no. 4).
The foreign exchange entity can register the performed operations in cash and with traveller’s cheques in separate registers.

67. The erroneous records in the handwritten registers shall be cancelled by crossing out or rectified indicating the date of cancellation /rectification and under the signature of the employee of the foreign exchange entity.

68. The information indicated on the control machine’s tape shall comply with the relevant information indicated in the registers provided for in item 66.

69. The foreign exchange entity may not register the foreign exchange operations in the registers provided for in item 66, in conditions when the utilized cash control machine ensures delimitation of purchase and sale operations of foreign currency in cash by the purchase and sale operations of traveller’s cheques, as well as ensures printing the data about fees, mandatory payment, traveller’s cheques (name, numbers, series), exchange rate, amounts paid to the customer and received from the customer.

(Item 70 repealed by the Decision of the NBM no.203 of 09.08.2018)

Section 4. The registration of the operations performed at the currency exchange machine

71. The foreign exchange entity must ensure for each foreign exchange operation performed at the currency exchange machine:
a) the automatically registration of the operation, at the moment of its performance, through the devices or systems for cash operations registration with which the currency exchange machine is equipped;
b) the printing of the cash voucher or of other document provided for by the fiscal legislation, by reflecting the information provided for in art. 421 par. (3) letters b) and e) of the Law no.62-XVI of March 21, 2008.

72. The cash voucher or of another document, provided for by fiscal legislation shall be printed simultaneously with the release of the funds to the customer.

73. The foreign exchange entity shall ensure that the operation is registered in separate registers at the moment of performance via a currency exchange machine:
a) the register of purchase operations of foreign currency in cash against Moldovan Lei in cash;
b) the register of sale operations of foreign currency in cash against Moldovan Lei in cash.
In these registers shall be reflected at least the information indicated in columns 2-5, 7-11 of the registers referred to in Annexes no. 3 and no. 4.

(Item 74 repealed by the Decision of the NBM no.203 of 09.08.2018)

Section 5.  The peculiarities related to revocation of the currency exchange operation

75. The revocation of foreign exchange operation by the individual shall be performed with complying to the conditions stipulated in art. 42 par. (61) and, where appropriate, in art. 421 par. (3) letter d) of the Law no.62-XVI of March 21, 2008.

76.The revocation by the individual of the currency exchange operation, performed until its finalization, shall be done as follows:
a) in case of performing the operation through the counter of the foreign exchange entity - on the basis of customer’s oral request;
b) in case of performing the operation via the currency exchange machine - according to the machine’s technical characteristics.
The foreign exchange entity shall be obliged to reimburse to the individual the funds received.

77. The individual can revoke  the foreign exchange operation after its completion only when the operation was carried out through the counter of the foreign exchange entity. The revocation shall be carried out based on individual’s written application in accordance with Annex no.6 in two copies, with the attached cash voucher or, where applicable, the attached payment receipt. After performance of mentions in both copies of the submitted application about its receipt as well as of the attached voucher by the foreign exchange entity, a copy of the application with the cash voucher attached shall remain at the foreign exchange entity, and the second copy shall be returned to the individual as confirmation of receiving the application with the attached cash voucher.
(Item 77 modified by the Decision of the NBM no.203 of 09.08.2018)

78. If within the revoked foreign exchange operation, the fees or the mandatory payments were charged, the foreign exchange entity shall also reimburse to the customer the respective amounts.

79. The foreign exchange entity shall reimburse the funds to the individual related to the revoked foreign exchange operation, specified in item 77, immediately after submission of the application for revocation, and when the foreign exchange entity does not have the necessary funds - no later than on the following working day.

80. Upon receipt and reimbursement of funds, the foreign exchange entity shall make the mentions specified in Annex no.6, and the individual shall confirm the receipt of the reimbursed funds by applying his/her signature.

81. At the moment of submitting the application for revocation by the customer, the foreign exchange entity is obliged to register each revoked foreign exchange operation in the register of revoked foreign exchange operations, in accordance with Annex no.7.  

82. In case when the reimbursement of funds is made on the next working day following the day of submission of the application for revocation, shall be proceeded as follows:
a) on the day of receipt of application, only columns 1-5 shall be filled in the register and in the columns 6-9 shall be put dashes;
b) on the day of reimbursement of funds, all the columns shall be filled in the report for the respective day.

Section 6. The aggregation of the foreign exchange operations

83. At the end of the work program, the foreign exchange entity, which carries out its activity through the counters, is obliged, in relation to foreign exchange operations performed on each cash control machine, to undertake at least the following actions:
a) to obtain aggregated fiscal documents provided by the fiscal legislation;
b) to calculate in the registers referred to in item 66 (according to Annexes no.3 and 4) the totals related to the performed operations – in case the concerned registers had been filled in;
c) to calculate in the register of revoked foreign exchange operations (in accordance with Annex no. 7 the totals related to respective operations, in case those were performed;
d) to verify data related to totals calculated from filled registers with corresponding data from aggregated fiscal documents, which must correspond;
e) to compile the report on performed operations during the work program in accordance with Annex no.8;
f) to verify the compliance of balances of cash in Moldovan Lei, in foreign currency and of traveller’s cheques, for each item name, with respective balances reflected in the report from Annex no.8;
g) to ensure the existence of documents which provide information on the performed operations, including the report filled in accordance with Annex no.8, the second copies of currency exchange bulletins, the documents on the basis of which the funds were received / transmitted between employees within the foreign exchange entity, the control machine’s tape, aggregated fiscal documents and, if applicable, of the registers filled in accordance with Annexes no.3, no 4 and no.7.
(Item 83 modified by the Decision of the NBM no.203 of 09.08.2018)

84. Depending on the manner of the work organization during the work program (such as work in shifts, through several counters), the foreign exchange entity shall undertake the actions specified in item 83 also during the work program of the entity.

85. Daily, within the term and period established by the foreign exchange entity through its internal regulations, it is obliged, in connection with foreign exchange operations performed at each currency exchange machine, to undertake at least the following actions:
a) to calculate, for the established period, the totals for the performed operations reflected in the register of purchase operations and in the register of sale operations;
b) to fill in the report on performed operations, in accordance with Annex no. 8;
c) to ensure the existence of documents which reflect the information on performed operations, including the report filled in accordance with Annex no.8, the register of purchase operations and the register of sale operations, the aggregated documents of the performed operations.
(Item 85 modified by the Decision of the NBM no.203 of 09.08.2018)

Section 7. The peculiarities of the currency exchange activity

86. While carrying out the currency exchange activity in cash with individuals, the foreign exchange entity, as a reporting entity in accordance with the Law on prevention and combating money laundering and terrorism financing no. 308 of December 22, 2017, is obliged to execute the provisions of the concerned law, as well as of normative acts elaborated under this law, in the part referring to the currency exchange activity.
(Item 86 modified by the Decision of the NBM no.203 of 09.08.2018)

(Items 87-89 repealed by the Decision of the NBM no.203 of 09.08.2018)

90. The foreign exchange entity shall keep the documents related to the performed foreign exchange operations (control machine’s  tape, the second copy of currency exchange bulletins, the registers filled in accordance with Annexes no.3, no 4 and no.7, the report filled in accordance with Annex no.8, other documents related to the performed operations) at least for five years after the completion of the operations.
(Item 90 modified by the Decision of the NBM no.203 of 09.08.2018)

 

Annexes:       PDF       DOC