The National Bank of Ukraine is introducing new restrictions on card transfers aimed at increasing the transparency of financial transactions and reducing the risk of illegal activity. However, experts warn: this step can have both positive and negative consequences for the economy and society.
According to the memorandum signed by the NBU, transaction limits are set for clients with unconfirmed incomes. From February 1, 2025, the maximum transfer amount for clients with a high level of risk will be UAH 50,000, and for those with medium and low risk - UAH 150,000. From June 2025, this threshold will be reduced to UAH 100,000.
In addition, stricter inspections of customers at the stage of opening accounts, as well as their division by risk levels, are foreseen.
Economist Oleksandr Savchenko supports the idea of combating illegal financial transactions, but draws attention to certain risks. According to him, the restrictions are aimed at countering the use of cards for shady schemes, including the financing of terrorist activities or illegal casinos.
"Indeed, for a small fee, many Ukrainians lend their cards for such transactions," Savchenko notes.
However, the economist admits that the innovations will encourage some citizens to use cash or cryptocurrency, which are less transparent and controlled.
In order to carry out operations for larger amounts, citizens must confirm their sources of income. This can be a salary that exceeds the established limits, or income from the sale of property. Savchenko adds that this process is often accompanied by bureaucratic difficulties:
"This is an unpleasant bank bureaucracy that only makes life difficult for clients."
The predominance of cash payments or the transition to cryptocurrencies creates challenges for the Ukrainian economy. Cash reduces the transparency of financial transactions, while cryptocurrency can be more difficult to control by the government.
At the same time, the reduction of illegal operations and shadow schemes will positively affect the image of Ukraine in the eyes of international partners and financial institutions.
