In Uzbekistan, a new Account-to-Account (A2A) service has been launched, which strengthens cooperation between banks and provides additional convenience for clients. This was officially reported by the Central Bank.
The new system was implemented based on modern technical infrastructure created by the Central Bank’s Main Informatization Center. This service primarily allows individuals to transfer money directly from one bank account to another.
Difference between Account-to-Account (A2A) and Peer-to-Peer (P2P)
In P2P transfers, funds are sent via card number. In A2A, the money is transferred directly between bank accounts. The advantage of this is that opening a new card is not required, and the transfer is carried out directly through the existing bank application.
Through the new service, clients gain an additional option when making money transfers. This is considered a second and convenient method, in addition to existing services. It should also be noted that each card is opened for a citizen based on the specific account number in the bank.
Availability in all banks and commissions
Currently, this type of service has been technically provided to all banks. At the same time, all existing transfer services can still be used through the application. Commissions are independently set by each bank according to their internal tariff policy and may vary depending on the type of service. The Central Bank, under market economy conditions, does not intervene in the process of setting commissions, and the Main Informatization Center also does not interact with clients, so it does not influence the commissions.
When using this new service, clients are recommended to familiarize themselves in advance with the tariffs and conditions provided by banks. In this way, citizens can compare services of different banks and choose the most optimal and convenient financial option.
The new A2A system is considered a modern service that strengthens cooperation between banks and provides clients with freedom in money transfers.
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