The Chairman of the National Bank stated that the NBU may cancel the UAH 150,000 limit for card transfers
Andriy Pyshny, Chairman of the National Bank of Ukraine, explained how the updated processes for card transfers will work.
Andriy Pyshny, Chairman of the National Bank of Ukraine, explained how the updated processes for card transfers will work.
Since February 1, after the memorandum came into force, according to which banks have defined the appropriate procedure for checking clients, new restrictions on money transfers have been in effect. Andriy Pyshnyy said in an interview for Forbes that the NBU will spend one to two months watching how the updated processes will work.
«If they are effective, the NBU, as promised, will lift the UAH 150,000 limit for card transfers,» he added.
As a reminder, from October 1, 2024, the National Bank of Ukraine temporarily set a limit of UAH 150,000 per month for card-to-card transfers (also known as P2P, C2C) for individuals for six months. The limit applies only to outgoing transfers from all client accounts opened in the same bank to the accounts of other individuals.
What figures are mentioned in the memorandum?
According to the memorandum, if there is no documented income, banks are obliged to set limits (which will apply to transfers using IBAN details) for transactions:
- from 01.02.2025 — for clients with a «high» risk level, set a limit of up to UAH 50,000/month;
- for clients with «medium» and «low» risk levels — in accordance with the limits and terms of phased implementation:
-
- from 01.02.2025 — in the amount of up to 150,000 UAH/month;
- from 01.06.2025 — in the amount of up to 100,000 UAH/month.
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