The drop register will ease restrictions on P2P transfers - bankers.

Banks can ease limits on P2P transfers

Deputy Executive Director of the Independent Association of Banks of Ukraine (NABU) Dmytro Hlinsky stated that if the drop register and automated income verification tools for clients are implemented, banks may ease the limits on P2P transfers set out in the Memorandum on Transparency in the Payment Services Market.

'Currently, this topic has not been discussed. But if effective tools for countering the phenomenon of drops are implemented in the future, including the relevant register and mechanisms for automated income verification by banks for their clients, the need for unified limits may disappear on its own.'

Memorandum on Ensuring Transparency in the Payment Services Market

The head of NABU noted that the Memorandum, signed last December, allowed the National Bank not to extend the regulatory restrictions that were in place since October 1, 2024, regarding outgoing transfers between the accounts of individuals within one bank.

According to the Memorandum, banks voluntarily introduced new limits on transfers: UAH 50,000 per month for clients with a high risk level without confirmed income, UAH 150,000 for clients with medium and low risk levels. It is planned that from June 1 of this year these limits will be reduced.

As of now, 51 out of 60 banks and two financial companies NovaPay and RozetkaPay have signed the Memorandum. The National Bank of Ukraine plans to introduce the drop register in 2026, and the draft law on this is expected to be prepared by the end of May of this year.

It is evident that banks strive for more transparent and controlled financial operations, utilizing new technologies and automation mechanisms to enhance security and efficiency in the financial services sector.