New Transfer Regulations by the NBU
The National Bank of Ukraine has decided not to extend the monthly transfer limit of 150,000 UAH that was implemented in October 2024.
This information was announced by the NBU press service.
The restrictions applied to all individual accounts within one bank for transfers between individuals.
These measures helped to reduce the "anomalous spike" in transfer volumes and halted the increase in the number of payment cards observed in September-October 2024.
According to the new legislation, the NBU has enhanced its regulatory functions over the financial services market and increased fines for violations of payment legislation. A Memorandum on the Transparency of the Payment Services Market has also been signed, with most banks and licensed payment providers joining.
The NBU continues to improve monitoring of payment operations and collaborates with law enforcement agencies to combat criminal schemes. The Bureau of Economic Security recently uncovered a network of over 4,000 drop individuals.
The NBU has also prepared a concept for a registry of individuals requiring enhanced control, which will be sent to the Verkhovna Rada of Ukraine for further consideration in April.
Reminder:
The National Bank of Ukraine (NBU) has established new restrictions on foreign operations using payment cards from Ukrainian banks starting from September 10.
From October 1, 2024, the NBU will impose a limit of 150,000 UAH per month for six months (instead of the previously announced 100,000 UAH) for individual transfers "from card to card".