Repeal of Treasury Single Account Mechanism


Dear clients,

On 28 February2014 UBB’s cut-off time for processing transfers to the Treasury Single Account will be 11 o’clock.

Since 01.03.2014, pursuant to a ruling of the Constitutional Court, the use of the Treasury Single Account is being repealed, and effective from 4.03.2014 payments will be routed to new accounts with the following payment type codes:

    • 110000 – Central Government Budget revenues, administered by the National Revenue Agency

    • 551111 – Insurance contributions and penalty interest for Public Social Security contributions to General Pension Funds and to the Guaranteed Receivables of Workers and Employees’ Fund

    • 561111 –Insurance contributions and penalty interest to the National Health Insurance Fund

Information on the account numbers will be announced additionally on 4.03.2014 in UBB e-banking website and in the Bank’s branch network.