Update on Financial Transfer Restrictions in Ukraine
The National Bank of Ukraine has decided not to extend the transfer limit of 150,000 UAH per month that was imposed in October 2024.
This has been reported by the NBU press service.
The restrictions applied to all individuals making transfers within a single bank.
These measures helped to reduce the "unusual spike" in transfer volumes and halted the increase in the number of payment cards observed in the fall of 2024.
According to new legislative initiatives, the NBU has enhanced its regulatory functions in the financial services market and increased fines for violations of payment legislation. A Memorandum on the transparency of payment services has also been signed, with most banks and licensed service providers joining.
The NBU continues to improve monitoring of payment transactions and collaborates with law enforcement to combat criminal schemes. Recently, the Bureau of Economic Security uncovered a network of over 4,000 participants.
The NBU has also prepared a concept for a register of individuals requiring enhanced scrutiny, which will be submitted to the Verkhovna Rada of Ukraine for further consideration in April.
Reminder:
The National Bank of Ukraine (NBU) has introduced new restrictions on international transactions using payment cards from Ukrainian banks starting from September 10.
From October 1, 2024, the NBU will establish a limit of 150,000 UAH per month (up from the previously announced 100,000) for individual transfers from card to card.
