In Moldova, customers of exchange offices will get the right to cancel currency exchange operations within 30 minutes.

In Moldova, customers of exchange offices will get the right to cancel currency exchange operations within 30 minutes.

This is provided by the amendments approved by the government to its previous decisions made to implement in practice the relevant provisions of the modified earlier Law on Currency Regulation. The amendments clearly stipulate the right of the client for exchange of foreign currency to demand the annul of the foreign currency transaction before its completion, and also within 30 minutes after its completion. In the latter case (within 30 minutes after its completion), certain other conditions must be observed: during this period, the exchange rate of the currency purchase and sale was not changed, the demand for recall is carried out not less than 30 minutes before the end of the working day of the institution for foreign currency exchange. It is stipulated that the exchange currency transaction is considered completed after the client receives the cash and cash receipt or other document provided by the tax legislation. The 30-minute period is calculated from the time specified in the cash receipt (another document). The cancellation of the currency exchange transaction after its completion is carried out on the basis of a written application of the client, to which is attached a cash voucher or other document provided for in the tax legislation. The institution for currency exchange is obliged to return to the client funds received as a result of the revoke of the currency exchange transaction, immediately after the submission of the application for cancellation, and in case it does not have the necessary funds, no later than the next working day. // 08.02.2018 - InfoMarket.

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