Ukraine is planning to introduce new restrictions on card-to-card transfers, which will apply to both individuals and individual entrepreneurs (FOPs). Seven major banks, including Oschadbank, OTP Bank, PrivatBank, Pravex Bank, FUIB, Raiffeisen Bank and Universal Bank, are preparing to sign a memorandum on setting limits on such transactions.
Main provisions of the memorandum
- Stages of implementing limits:
- From January 1, 2025: the maximum amount of transfers from one account will not exceed UAH 150,000 per month.
- From June 1, 2025: the limit will decrease to UAH 100,000 per month.
- For “risky” clients: It is planned to set a limit of UAH 50,000 per month.
- Number of accounts: A maximum of three current accounts in the same currency are allowed for clients without documented sources of income.
Impact on sole proprietorships
Special attention will be paid to individual entrepreneurs of the first group, registered for less than half a year. When opening an account, the client will be assigned one of three risk categories. For clients with low and medium risk, simplified checks without confirmation of income will be applied if the amount of transactions does not exceed UAH 150,000.
The purpose of innovations card-to-card transfers
These measures are aimed at combating illegal financial transactions, in particular the practice of “drops”, when individuals transfer access to their accounts for a fee to conduct dubious transactions. It is also planned to expand access to information on clients’ income and their legal cases through the “Diya” application and create a register of dubious clients.
These restrictions will be in effect throughout 2025. To increase limits, clients will need to provide documentary evidence of a higher income level.
