Ukrainian banks introduce new restrictions on transfers
Date: 2024-12-11 Author: Oliver Abernathy Categories: IN WORLD
The country's leading financial institutions, including monobank, Oschadbank, PrivatBank, Raiffeisen Bank and others, signed a memorandum aimed at regulating outgoing transfers. According to the document, for high-risk clients, the limit will be UAH 50,000 per month. For clients with medium and low risk, the restrictions will be as follows:
From January 2025 - up to UAH 150,000;
From June 2025 - up to UAH 100,000.
These rules apply to all types of transfers, including IBAN transactions.
The signed memorandum also limits the number of accounts in one currency for clients who cannot confirm their sources of income. Now no more than three such accounts are allowed. Exceptions are deposit and credit accounts, as well as accounts for participation in government programs.
To transfer an amount exceeding the established limit, the client will have to provide documents confirming the origin of the funds. Banks will tighten control over transactions carried out by individuals and sole proprietors, taking into account the level of risk and the nature of the use of accounts. This will allow an individual approach to checks, minimizing financial risks.
Earlier, from October 2024, the National Bank of Ukraine temporarily limited outgoing P2P transfers between individuals to the amount of UAH 150,000 per month. These measures are valid until April 2025 and are supplemented by new rules adopted by banks.
The memorandum remains open to other financial institutions that can join its terms.
