Starting June 1, 2025, Ukrainians will see a new improvement in the banking sector. At the beginning of the summer, Ukraine will reduce the limits on money transfers for individuals. This applies to both card-to-card transfers and payments by bank details (via IBAN). This decision was made by the country’s largest banks by signing a memorandum.
What will change from June 1?
From now on, customers considered by banks to be «low» or «medium» risky will be able to transfer no more than UAH 100 thousand per month. Previously allowed use up to UAH 150 thousand without restrictions.
For those considered by banks to be «high-risk», everything will remain as it was — a maximum of UAH 50 thousand per month.
These restrictions will not apply to certain categories of bank account holders:
- those who have officially confirmed their income (for example, receiving a salary on a card);
- volunteers;
- charitable organizations.
Also, banks will not restrict transfers between their own accounts if they are opened in the same bank.
And if you need to transfer more?
In this case, the bank will ask to see documents confirming where the average citizen got the money and how much he or she earns. Otherwise — the transfer will fail.
To confirm your income, you will need to provide certain documents to the bank. They can be in electronic form. These can be OK5 or OK7 certificates that you can generate yourself, tax returns, payroll documents, confirmation of payments from the state, documents on the income of family members, or documents confirming volunteer activities. After verification, the bank will be able to cancel the restriction or set an individual limit that will correspond to official income. The bank can also track how much money is credited to the user’s account.
How did we get to this point?
As early as October 1, 2024 NBU limits card-to-card transfers to UAH 150 thousand per month. This restriction was in effect until April 1, 2025.
And in December 2024 leading Ukrainian banks agreed on new common rulesto make the bank transfer market more transparent. They replaced the previous rules from the National Bank. But now it seems to be an initiative of the banks themselves, not a restriction of the regulator.
Source: Judicial and legal newspaper
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