From October 1, 2024, the National Bank of Ukraine will introduce 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.
The statement on the NBU website states that the new limit applies to all client accounts opened in 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:
- Accounts of volunteers : The restriction does not apply to transfers between accounts of volunteers that meet the criteria defined by the relevant resolution of the NBU.
- Individuals with confirmed high incomes : The limit will not be applied to individuals whose monthly incomes exceed the set amount of the limit and can be documented.
- Own transfers between accounts : Fund transfers between the client's own accounts opened in the same bank will not be subject to restrictions.
- Transfers between legal entities : The limit will not affect transfers between legal entities.
- Operations using IBAN details : Transfers made using IBAN details will also not be subject to restrictions.
This NBU decision is aimed at increasing financial security and reducing possible abuses in the system of transfers between individuals. The restriction will allow to better control the flow of funds 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 in order to ensure smooth execution of financial transactions and avoid possible misunderstandings among users.
