Regulatory Alerts2025-06-03
Added · Updated
Instruction No. 8/2025
The Bank of Portugal revokes Instruction No. 15/2014 and Instruction No. 4/2019, which previously regulated decentralized euro banknote and coin deposit and withdrawal services and reporting obligations for cash-handling entities. This revocation is due to a significant decline in the commercialization and installation of related equipment, rendering the previous regulatory framework obsolete as the information collected became partial and residual. The revocation takes effect the day following the publication of this Instruction.
Instruction No. 8/2025 BO No. 5/2025 2nd Supplement • 2025/06/03 .................................................................................................................................................................................................. Topics Banking Operations :: Deposits and Withdrawals of Banknotes Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Revocation of Instruction No. 15/2014 (amended by Instruction No. 4/2019) Instruction No. 15/2014 of August 18, as amended by Instruction No. 4/2019 of January 25, regulates the conditions under which decentralized deposit and withdrawal services for euro banknotes and coins are made available by entities that professionally handle cash. Additionally, it determines the duty to report information regarding the aforementioned services, such as customer identification, the type of equipment in use, and its location, by completing the form provided in electronic format on BPnet. Currently, the marketing and installation of this equipment by entities subject to the reporting obligation has seen a very sharp decrease. Additionally, no new equipment has been installed that would necessitate testing and monitoring by the Bank of Portugal, as had happened in the past, thus losing the useful effect of the regulation of this reality. Due to the substantial change in the business related to this equipment, the information we receive regarding the reality of this type of operation is partial, incomplete, and residual, which is why we consider that Instruction No. 15/2014 should be revoked and, consequently, Instruction No. 4/2019. Thus, in the exercise of the powers conferred upon it by Articles 14 and 17 of the Organic Law of the Bank of Portugal, approved by Law No. 5/98 of January 31, and by Decree-Laws No. 184/2007 of May 10 and No. 195/2007 of May 15, the Bank of Portugal determines the following:
Article 1. Revocatory Norm Instruction No. 15/2014 of the Bank of Portugal, published in the Official Bulletin No. 8/2014 on August 18, 2014, regarding the decentralized deposits and withdrawals of euro banknotes and coins, as amended by Instruction No. 4/2019, published in the Official Bulletin No. 1/2019 (Supplement) on January 25, 2019, is revoked, which is also considered revoked.
Instruction No. 8/2025 BO No. 5/2025 2nd Supplement • 2025/06/03 Topics Banking Operations :: Deposits and Withdrawals of Banknotes .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 Article 2. Entry into Force This Instruction enters into force on the day following its publication.