New limits for card-to-card transfers: banks have signed a memorandum.

Oschadbank, PrivatBank, Raiffeisen Bank, and Universal Bank have signed a memorandum to ensure transparency in the payment services market. The document outlines the update of monthly transfer limits. 

This was reported by the press service of the National Bank.

“By signing the Memorandum, payment service providers commit to processing customer transfers while considering the risk-oriented approach implemented in the bank,” the statement reads.

If there is no documented proof of income, banks are required to set the following limits (which will apply to transfers based on IBAN details):

• starting February 1, 2025 – up to 50,000 UAH per month for customers categorized as "high" risk.

For customers classified as "medium" and "low" risk, limits will be established in two phases:

• from February 1, 2025, up to 150,000 UAH per month;
• from June 1, 2025, up to 100,000 UAH per month.

These limits will not include transactions transferring funds between two accounts opened by the same customer at one bank. The limit can be increased upon the customer’s request, but only if the bank is provided with documented proof of income sources.

For transactions involving clients with verified income sources (including salaried clients and others with confirmed income), as well as for volunteers, no limits will be imposed.

“For the vast majority of ordinary banking service users, the proposed limits will have no impact. The primary goal of the Memorandum is to combat the illegal use of Ukraine's payment infrastructure and to create equal conditions for all market participants. We are confident that all banks and non-bank payment service providers will support this initiative,” said Andriy Dubas, President of the Association of Ukrainian Banks.

Background. Previously, Mind reported that as of October 1, limits of up to 150,000 UAH per month are in effect for card-to-card transfers. These restrictions were imposed for six months to counter “drops.”