Starting February 1, 2025, Ukraine will implement new restrictions on money transfers between individuals, specifically introducing limits.
According to the information from the National Bank of Ukraine (NBU), the aim of these new limits is to enhance oversight of financial transactions and to prevent the use of illegal schemes, particularly "drops."
These are individuals who hand over their bank cards to third parties for conducting questionable transactions. The new regulations are intended to combat the shadow economy and tax evasion.
- For high-risk clients, the limit will be set at 50,000 UAH per month.
- For other individuals, the limit will be 150,000 UAH starting in February, reduced to 100,000 UAH starting June 1, 2025.
- The limits apply not only to card-to-card transfers (P2P) but also to all transactions through current accounts, including operations via IBAN.
As explained by NBU head Andriy Pyshnyy, the new rules will primarily affect clients who do not provide documentary proof of their income, especially those deemed "high-risk" by banks. Such clients are estimated to make up less than 1% of the entire customer base, yet they are actively involved in illegal schemes.
"This is a small percentage, but these individuals are responsible for the foundation of billion-dollar shadow flows. For the rest of the law-abiding citizens, these restrictions should not pose any issues," noted Pyshnyy.
- In cases of significant savings or legalized income, clients may apply for a review of the limits by providing the necessary documents.
- The restrictions do not apply to salary payments, volunteer collections, and other transactions with verified legal sources of income.
"If you are officially employed, receiving a white salary, or have other verified sources of income, the new rules will not affect you," emphasized Pyshnyy.
Thus, if the bank sees that your income, for example, comes from an official employer, even if it exceeds 100,000 UAH, there will be no questions raised.