From October 1, 2024, the National Bank of Ukraine (NBU) will introduce a temporary restriction on card-to-card (P2P and C2C) money transfers between individuals. For six months, a limit of UAH 150,000 per month will apply for outgoing transfers to the cards of other individuals. This restriction will apply to all customer accounts opened in the same bank.
The new rules will not affect incoming transfers, their number, as well as transfers between the client's own accounts or transactions using IBAN details. The limit will also not apply to volunteers who meet at least two criteria defined by the NBU for volunteering.
It is important that if the total amount of the client's transfers exceeds UAH 150,000 per month, but he can prove the transparency of these transactions, the restrictions will not be applied.
According to the NBU, these changes will not affect 98% of clients, as their monthly transfers usually do not exceed the specified amount. The limit was introduced as a temporary measure to combat "drops" - persons who provide their card accounts for use by third parties, which leads to the outflow of significant funds, about 200 billion hryvnias annually.
This six-month period will allow the NBU to work on comprehensive solutions in order to remove the introduced restrictions in the future, subject to the success of measures to combat illegal financial transactions.
