• 17/04/2024 02:16

Why a bank may block a card: common reasons

 Why a bank can block a card : common reasons

Ukrainians' bank cards are blocked without notification.

In Ukraine, banks block cards without notification. A card can be blocked for non-updated data about oneself if the executive service has seized it (due to unpaid alimony, an unfulfilled court decision, overdue fines, etc.), or if an individual cannot prove the legal origin of the funds.

OBOZ.UA writes about this.

Particular attention should be paid to the following cases:

  • withdrawal of an unusually large amount of cash in a region where you are not usually located;< /li>
  • large online purchases, especially at night;
  • receiving a large amount on a card and withdrawing it in cash;
  • transactions with cryptocurrency or other virtual assets worth more than 30 thousand UAH;
  • transactions in the amount of 400 thousand UAH. and more.

Fraudsters steal money from Ukrainians and immediately buy cryptocurrency. There is a well-functioning scheme in place: money is transferred from the victim’s card directly to the account of a Ukrainian who sells cryptocurrency. He, suspecting nothing, sells, for example, part of his bitcoin. Receives hryvnia on the card. However, subsequently his account is blocked by the bank.

“I sold cryptocurrency for 10 thousand UAH. I did not have time to spend the money, and my account was blocked allegedly for fraudulent actions. I contacted PrivatBank, and now they tell me that I need either a court decision or for me to return the money to the victim,” complained one of the Ukrainians.

Let us remind you that The NBU is working to limit card transfers – who will this affect.


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