The National Bank of Ukraine (NBU) announced the possibility of introducing new restrictions on P2P transfers between individual accounts by the end of June 2024. According to these restrictions, the transfer limit will be 100,000 hryvnias per month and 30 transactions per month for one account.
New restrictions were announced yesterday by Deputy Chairman of the National Bank, Dmytro Oliynyk.
He explained their necessity by countering the illegal gambling business, where money is transferred between the accounts of individuals. And also countering tax evasion.
"And they also hope to defeat the opening of cards for fake persons, which has become a real fashion recently - when cards are opened for elderly people, students or someone else, and then transferred for use to someone else (a third party) who does not want to officially "shine" ” their finances. For now, it is about limiting the number and monthly amount of transactions. But if this does not help, a register of names (with tax numbers) of Ukrainian citizens who participated in schemes or were "fake" will be created. So that all banks know these schemers and do not open accounts for them. They simply won't be able to pass the financial monitoring at the entrance," the source said.
The market is also talking about another goal, which the officials do not advertise - about attempts to fight the so-called "black wages". They used to be called "salaries in envelopes", but now it has turned into spreading money around people's personal accounts. Tax authorities have been trying to fight this phenomenon for a long time, in particular, involving the NBU.
But bankers do not really believe that the limit of 30 outgoing transactions per month for UAH 100,000 will be able to stop the transfer of gambling or salary money. It is expected that Ukrainians who need to frequently transfer large sums will simply open more accounts in different banks. After all, one bank has no idea what their client is doing in another.
Currently, many Ukrainians have 2-3 accounts, and the number of bank cards in their hands will only increase, since the maximum number of accounts per individual is not limited by current legislation.
At the moment, the National Bank does not limit the maximum number of transfers of individuals between Ukrainian bank accounts. However, such restrictions are established by the banks themselves within the framework of financial monitoring by their internal rules.
For example, Privatbank clarified that it has a limit of 200 outgoing transfers for one client and 350 for incoming transfers (crediting of funds). There is a monthly limit of UAH 1 million for enrollment and the same amount for money transfers. But starting with UAH 400,000, the bank will definitely request information about the origin of the funds, and if it is not provided, transactions will be stopped and the account will be blocked.
Monobank (Universalbank) has other limits: 50 transfers (all) per day, 100 transfers - for 4 days, and 150 transfers - per month. The maximum transfer amount is UAH 60,000 per day. And if we talk about monthly limits, then they are set differently, depending on the type of bank card: MasterCard - up to UAH 400,000, VISA - up to UAH 1 million. But in each case, the rule on providing data on the origin of funds for transactions of UAH 400,000 and above also applies.
