The new limits may be stricter than those introduced by the National Bank on October 1 of this year.
In Ukraine, the largest banks are planning to reduce the limit on fund transfers from 150,000 to 50,000 UAH per month for “dangerous” clients without a confirmed source of income. Economic Pravda reported this on Tuesday, December 10, in connection with the memorandum.
The banks reportedly plan to sign this document today. It aims to strengthen banks’ control over customer transactions and set new limits on the amount of transfers that can be made in a month.
It is also noted that the new limits may be stricter than those introduced by the National Bank on October 1 of this year: they will apply not only to transfers from card to card, but also to transfers within a bank account using IBAN details.
“For individuals, the banks that signed the memorandum plan to introduce updated restrictions on money transfers. These restrictions will apply to initial transfers of funds within Ukraine and to foreign countries, and will be applied to all client accounts opened in the bank that signed the memorandum ( such as in Hryvnia, and in foreign currency),” the message said.
At the same time, the new limits agreed by the banks that signed the memorandum to be introduced will not be universal. They will depend on the risk level of the client and whether he has a proven source of income.
For other clients without a confirmed source of income, other transfer limits will apply:
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from February 1, 2025 – 150 thousand UAH per month;
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from June 1, 2025 – 100 thousand UAH per month.
The official purpose of the memorandum is the desire to “strengthen financial monitoring within the framework of Ukraine’s integration aspirations,” as well as “the fight against the shadow economy.”
The ultimate goal of the restrictions is to counter the so-called drops. These are individuals who willingly and for a fee give their bank accounts to criminals so that they can “pass” large sums of funds to them, avoiding taxes.
We remind you that from October 1, the National Bank has set a limit of 150 thousand hryvnias per month for card-to-card (P2P) transfers from individuals. It is stated that such restriction is introduced for six months.
And in September, the National Bank limited the use of cards abroad. They are related to real estate transactions, as well as the purchase of watches and jewelry.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.