• 24/07/2024 10:58

Banks “freeze” accounts for transferring funds: what operations may cause difficulties

ByJohn Newman

Jan 21, 2024

Financial institutions in our country can legally block a card/account due to a transfer of funds, requiring documents justifying the transactions, but the restrictions also apply to a number of non-standard transactions with their own money.

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Banks are “freezing” accounts for the transfer of funds: what operations may cause difficulties

Photo – kp.ru

About the fact that Ukrainian banks, within the framework of financial monitoring, were entrusted with the responsibility for checking almost any transactions, and this is caused by global trends in strengthening the role of the state in the economic sphere in the conditions of “fragmentation,” writes “NBN”, referring to the opinion of experts published by Obozrevatel.

In particular, a card can be frozen not only for late updating of personal data, seizure by the executive service or inability to prove the legal source funds, but for:

  • “cash out” an unusually large amount of funds in a region where the person who did this is usually not located;
  • night shopping on the Net ;
  • transfer of a considerable amount to a card/its withdrawal in cash;
  • transactions with digital currency/other virtual assets in amount from 30 000 hryvnia;
  • transactions for amount from 400 000 hryvnia.

We previously wrote about that Oschadbank told how pensioners with expired cards can get their payments.


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