The National Bank has signed a memorandum on ensuring the transparency of the banking payment services market with two professional associations and four banks: "Oschadbank," "Raiffeisen Bank," "PrivatBank," and "Universal Bank" (monobank). This is reported by LIGA.net.
It is noted that this agreement is linked to the need to combat illegal payment operations and money laundering.
The memorandum includes checks on clients at the account opening stage, categorizing them based on "high" and "low" risk criteria.
For high-risk clients, the checks will be intensified, particularly regarding the origin of funds and income levels.
Limits on planned operations for both categories will be implemented:
- from February 1, 2025 - up to 150,000 UAH per month;
- from June 1, 2025 - up to 100,000 UAH per month.
There will also be monitoring of transfer levels and restrictions on operations for clients with unverified incomes: 50,000 UAH for those classified as "high" risk, and for clients with "medium" and "low" risk levels - 150,000 UAH starting February 1, 2025, and 100,000 UAH starting June 1, 2025.
However, if clients have higher verified incomes, they will be allowed to make transfers up to the amount of those incomes.
Limits on card transfers - what is known
In Ukraine, starting from October, a new limit on card-to-card transfers of 150,000 UAH per month has come into effect. This applies only to outgoing transfers from all of a client's accounts in one bank to external accounts. The limit does not affect volunteers or individuals whose monthly income exceeds 150,000 UAH.
The National Bank stated at that time that the introduced limit would help minimize the use of payment infrastructure in illegal activities, particularly involving "drop" accounts, which are a common mechanism in the functioning of the shadow economy.
According to Forbes, banks were preparing a joint memorandum to tighten restrictions on card transfers. The amount that can be transferred will be no more than 100,000 UAH from one account, and for high-risk clients, it will be halved. At the account opening stage, individuals or private entrepreneurs will be assigned one of three risk categories. Clients with low and medium risk levels will have simplified verification measures from the bank: without mandatory income confirmation.