New Transfer Regulations in Ukraine
The National Bank of Ukraine has decided not to extend the limit of 150,000 UAH per month that was implemented in October 2024.
This was reported by the press service of the NBU.
The limit applied to all personal accounts in one bank for transfers between individuals.
These measures helped to reduce the "anomalous spike" in transfer volumes and halted the increase in the number of payment cards observed in September and October 2024.
According to new legislative initiatives, the NBU has improved the regulation of the financial services market and increased penalties for violations of payment legislation. A Memorandum on the transparency of the payment services market has also been signed, with the majority of banks and licensed payment providers joining.
It is noted that the NBU continues to enhance monitoring of payment operations and collaborates with law enforcement to combat criminal schemes. The Bureau of Economic Security recently uncovered a network of over 4,000 drop individuals.
The NBU has also prepared a concept for a registry of individuals requiring enhanced control, which will be submitted to the Verkhovna Rada of Ukraine for further consideration in April.
Reminder:
The National Bank of Ukraine (NBU) has implemented new restrictions on foreign transactions using payment cards from Ukrainian banks starting September 10.
From October 1, 2024, the National Bank of Ukraine will establish a limit of 150,000 UAH per month for six months (instead of the previously announced 100,000) for transfers between individuals "from card to card".