Banks may introduce new limits for Ukrainians: which operations will be affected.

The Ukrainian banking community will soon sign a memorandum that will significantly change the rules for monitoring financial transactions and checking clients' accounts. This was reported by authoritative sources from the banking sector.

One of the key innovations of the document will be the reduction of the monthly limit on transactions, after which enhanced financial control will be introduced. It is preliminarily planned that the limit will be 150 thousand hryvnias from January 1, 2025, and from July 1 of the same year, it will be reduced to 100 thousand hryvnias.

The main feature of the memorandum will be the expansion of monitoring not only of P2P transactions but also of transfers through IBAN accounts.

After establishing a limit of 150 thousand hryvnias per month, the volume of P2P transfers decreased by 5.2 billion hryvnias, while transfers through IBAN increased by 4 billion hryvnias.

National Bank of Ukraine

Leading banking associations, including NABU and AUB, are participating in the initiative. It is predicted that the memorandum will cover most banks and may replace the temporary regulation of the National Bank, the term of which expires on April 1 of the following year.

The National Bank of Ukraine previously established a limit of 150 thousand hryvnias on monthly outgoing transfers between individuals. The regulator emphasizes that this limit does not apply to volunteer accounts, individuals with confirmed high income, as well as internal bank and legal transfers.

The National Bank considers the introduced restrictions to be important for combating abuses, especially regarding the use of 'drop' accounts in the shadow economy. According to statistics, 98% of banking clients transferred funds monthly within the set amount.