New Cash Withdrawal Limits for Ukrainians Take Effect June 1: Major Banks Tighten Rules.

Tighter Cash Withdrawal Restrictions Across Ukraine

According to Novyny.live: Starting June 1, 2023, Ukraine introduced stricter cash withdrawal limits at ATMs operated by major banks, including PrivatBank, Oschadbank, and Monobank. These measures have made it harder for customers of these financial institutions to access physical currency.

What Has Changed for Bank Customers

For PrivatBank clients, the new rules cap daily withdrawals at 20,000 hryvnias. This marks a significant reduction from previous limits, directly impacting users' ability to obtain cash.

Oschadbank customers face variable limits ranging from 10,000 to 25,000 hryvnias every three hours, with a maximum daily withdrawal of 100,000 hryvnias. Notably, expired Oschadbank cards are no longer serviced, and issuing a replacement can take up to ten business days, potentially causing additional inconvenience.

Monobank has cut withdrawal amounts at partner ATMs by 30–40% compared to recent months, further straining clients who rely on cash.

Pensioners may feel these changes acutely, as reduced withdrawal limits could complicate access to pension payments in cash form.

Lawmakers are currently drafting a bill aimed at protecting customers from fraud, a response to rising fraudulent activity in the banking sector.

“These new cash withdrawal restrictions pose a serious challenge for many Ukrainians who depend on services from major banks.” — Source unknown

The reduction in withdrawal limits may undermine financial stability for the population, especially those reliant on cash disbursements. Monitoring further legislative and banking policy changes is crucial, as they could significantly shape the country's financial landscape.