Starting February 1, new limits on money transfers will take effect.

Starting February 1, Ukrainian banks will implement new restrictions on card transfers. The monthly limit will be set at 150,000 hryvnias. This was reported by TSN.

This applies to outgoing payments based on IBAN details. The relevant provisions are outlined in a memorandum signed by Ukrainian banks.

This new regulation will affect clients who do not have documented income. Banks will categorize such clients into three risk groups: "high," "medium," and "low." Each group will have specific limitations.

For clients classified as "high" risk, the limit will be 50,000 hryvnias per month.

For the "medium" and "low" risk groups, restrictions will be implemented in two phases:

from February 1, 2025 - up to 150,000 hryvnias

from June 1, 2025 - up to 100,000 hryvnias

As previously reported by “Judicial and Legal Newspaper,” on December 10, the Independent Association of Banks of Ukraine, the Association of Ukrainian Banks, Oschadbank, Raiffeisen Bank, PrivatBank, UNIVERSAL BANK, and others signed a Memorandum to ensure transparency in the functioning of the banking payment services market.

Clients planning to make transfers exceeding the established limit will be required to provide the bank with documented proof of income when establishing business relationships or planning transfers.