Impact of New Transfer Limits by the NBU

Since the introduction of limits on card-to-card transfers, the monthly volumes have decreased from 250 billion UAH to 170 billion UAH.

This was reported by Dmitry Oliynyk, Deputy Head of the National Bank of Ukraine, during a meeting of the national security commission.

"We are talking about transfers for which clients could not clarify the purpose and source of the funds," he stated.

Currently, the NBU is developing a draft law to establish a registry of drop accounts.

"We will soon submit the relevant draft law to the parliamentary committee for consideration," Oliynyk added.

According to him, the registry will be operational at least six months after the law is passed.

The NBU also notes that individuals who are included in this registry will not remain there permanently and will have the opportunity to exit. Stricter transfer limits will be imposed on such individuals.

For your information:

• As of October 1, 2024, the NBU has set a new monthly limit of 150,000 UAH for individual transfers, up from the previously announced 100,000 UAH.
• By April 2025, these restrictions were lifted, but a memorandum between banks remains in effect.
• According to the NBU, these transfer limits helped reduce the "anomalous surge" in transfer volumes, as well as halt the increase in the number of payment cards observed in September-October 2024.