At first, a limit of UAH 150,000 per month may be introduced from January 1, 2025, and from July 1 it will be reduced to UAH 100,000 per month.
Ukrainian banks are considering the possibility of signing a joint memorandum on reducing the limit on monthly transactions, after which, in the absence of confirmed income, enhanced financial monitoring will be carried out.
This was reported by Interfax-Ukraine, citing its own sources.
According to the sources, it is predicted that it will provide for a gradual reduction in the monthly transaction limit, after which, in the absence of confirmed income, enhanced financial monitoring will be carried out.
The agency also added that this will not only concern P2P transactions, which the National Bank of Ukraine has already limited to UAH 150,000 per month in more than one bank, but also IBAN transfers.
The agency's sources noted that both banking associations – NABU and AUB – are participating in this initiative, and about half of the banks have already preliminarily approved such an initiative. It is expected that the vast majority of banks will join the memorandum, and it may replace the corresponding regulation of the National Bank, which expires on April 1 next year.
“The limit applies only to initial transfers across all client accounts opened in one bank to the accounts of other individuals. The limit does not apply to the accounts of volunteers who meet the criteria defined by the resolution, and to individuals whose monthly income from confirmed sources exceeds the amount of the established limit,” the report says.
We remind you that Ukrainian banks, at the request of the National Police, will disclose the client's secret if the banking transaction “contains elements of a criminal offense.” The information that will be transferred to law enforcement agencies includes the identification data of the banking transaction and geospatial data.