New Regulations Limit Full Withdrawal from Bank Cards to Protect Uzbek Consumers
Uzbek banks must now maintain a minimum card balance when deducting debts automatically, shielding household funds from complete depletion.
Starting April 15, a new regulation in Uzbekistan prevents banks from fully withdrawing funds from customers’ bank cards in automatic deduction processes. This rule mandates that a minimum balance equivalent to three times the base calculation amount—currently 1,236,000 Uzbek soms—must remain on the card after any automatic payment deductions.
Impact on Household Budgets and Savings
This change primarily affects how banks recover debts related to loans, installment payments, and microloans via akseptsiz yechib olish—an automatic withdrawal system that does not require individual transaction approval from customers. Previously, funds could be exhausted entirely, leaving cardholders with no remaining balance.
“Banks can now only deduct amounts exceeding the minimum balance threshold, preventing customers’ accounts from being drained completely,” the Uzcard payment system stated.
From a personal finance perspective, this regulation protects ordinary consumers by ensuring they retain some liquidity on their cards, which is essential for daily expenses and emergency uses. For households managing tight budgets, the inability to spend any remaining funds due to automatic deductions could create financial strain and reduce access to essential services.
Moreover, the retained minimum balance restricts banks from seizing every last som, which supports better budget planning and reduces unexpected cash shortages for consumers. This measure is especially relevant for everyday investors and savers who rely on bank cards for both spending and managing repayments.
Exceptions and Technical Implementation
The restriction applies only to automatic deductions without prior transaction approval. If a customer authorizes a payment manually, for example via a one-time code, the bank may withdraw the full amount regardless of the minimum balance rule.
Uzcard and participating banks have already implemented the necessary technical adjustments, and many financial institutions have begun informing customers about this development.
For everyday consumers and investors, this change represents a safeguard that balances banks’ needs to collect debts with maintaining consumer financial stability. It reflects ongoing efforts in Uzbekistan to enhance consumer protection and promote more responsible lending and repayment practices.
