NBU responds to 'rumors' about new limits on bank transfers and card blocking.

The National Bank of Ukraine (NBU) has published a statement to dispel widespread rumors about the introduction of strict limits on banking operations for all clients. The regulator emphasized that such information is unreliable and unfounded. At present, the NBU does not plan to introduce any restrictions on the accounts of bank clients.

Earlier, NBU Chairman Andriy Pyshnyy noted that while excessive regulation is undesirable, certain restrictions are necessary to protect the budget from billion-dollar losses due to fraudulent schemes. In particular, starting October 1, a limit of 150,000 hryvnias per month for p2p transfers is set to be introduced. However, this decision is temporary and has exceptions, such as for volunteers.

NBU Deputy Chairman Dmytro Oliynyk clarified that banks will continue to verify their clients under the current financial monitoring legislation. In addition, the NBU advises banks to agree at the association level on setting limits that correspond to the income levels of clients as indicated in the questionnaire. The NBU also plans to create a registry of compromised cards and 'unreliable' merchants.

Let us remind you that the restrictions will affect fraudsters and drops who provide access to their bank cards to criminals for illegal financial operations.

The new limits and restrictions will not affect 98% of clients.