Limits on P2P payments (i.e. transfers between cards) were introduced in accordance with the Memorandum that Ukrainian banks signed with the NBU. The main goal is state control over financial flows and reducing the volume of shadow transactions.
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Unfortunately, banks “liked” to restrict customers, and from November 1, Ukrainians faced new restrictions from banks. Now a number of institutions have lowered the limits on transfers between individuals to 50 thousand hryvnias per month. And although officially the innovation applies only to “high-risk” customers or those who cannot confirm their income, in practice this definition may apply to a much wider range of citizens.
Financial analyst Andriy Shevchyshyn explains: many Ukrainians do not even suspect that they are in a “risk” group. For example, if a person declared to the bank that he uses a card for small household expenses, and then began to conduct large transactions, this immediately arouses suspicion. In such cases, the bank automatically reduces limits or even blocks transfers until the client proves the legality of his income.
And it's not just about hundreds of thousands of hryvnias. Finmonitoring works according to internal algorithms that react even to small, but frequent or unusual transactions. Therefore, if funds regularly “come and disappear” on the card without a logical explanation, the system may regard this as risky behavior.
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The expert advises not to wait for the blocking, but to update the information in the bank in advance. It is best to submit a certificate of income, documents about official salary or business activity. Also, if you are planning a large one-time transfer, it is worth notifying the bank in advance. This will help avoid delays and misunderstandings.
Shevchyshyn emphasizes that the current restrictions are not the arbitrariness of banks, but part of enhanced financial control aimed at combating money laundering. However, ordinary Ukrainians who simply actively use cards have also come under “surveillance.”
“If you receive transfers from friends, colleagues, or rent an apartment without an official contract, the bank may consider this suspicious activity. Therefore, it is better to have documents that explain the origin of the funds. Otherwise, even small transactions can cause blocking,” the expert noted.
Previously, “FACTS” wrote about how you can officially increase the limit for transfers between cards.
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