From October 1, 2024, the National Bank of Ukraine is introducing a temporary restriction on card-to-card transfers by individuals. The limit will be 150,000 hryvnias per month and will be valid for six months. This innovation applies only to outgoing transfers between individuals within the same bank to the accounts of other individuals.
A statement on the NBU website notes that the new limit applies to all client accounts opened at the same bank and is intended to control and reduce risks associated with financial transactions between individuals. The limit will not apply in a number of cases:
- Volunteer accounts : The restriction does not apply to transfers between volunteer accounts that meet the criteria specified by the relevant NBU resolution.
- Individuals with proven high incomes : The limit will not apply to individuals whose monthly income exceeds the established limit amount and can be documented.
- Own transfers between accounts : Transfers of funds between a client's own accounts opened at the same bank will not be subject to restrictions.
- Transfers between legal entities : The limit will not affect transfers between legal entities.
- Transactions using IBAN details : Transfers made using IBAN details will also not be subject to restrictions.
This decision by the NBU is aimed at increasing financial security and reducing possible abuses in the system of transfers between individuals. The restriction will allow for better control of fund flows and reduce the risks associated with possible financial fraud.
The National Bank of Ukraine promised to provide additional clarifications and recommendations regarding the new limit to ensure the smooth execution of financial transactions and avoid possible misunderstandings among users.
