The National Bank is preparing a draft decision on the limitation of card transfers and the introduction of maximum limits for card-to-card money transfers between individuals. It is planned that the limits for weekend P2P transfers may amount to UAH 100,000 and 30 operations per month for one account.
The restriction, which will be based on the April decision of the NSDC regarding the fight against illegal gambling business, is intended to be implemented within a month.
“We are considering the possibility of introducing a framework for outgoing P2P transfers from individual accounts in the amount of UAH 100,000 per month and limiting the number of such transfers to 30 per month. According to our calculations, 95% of bank customers will not even notice these restrictions. Instead, make shadow payments to criminals who use cards of individuals for, for example, non-payment of taxes and criminal activities, will become more difficult and more expensive,” said Deputy Chairman of the National Bank Dmytro Oliynyk.
They do not plan to limit incoming transactions, so as not to complicate the activities of, for example, volunteers. In addition, if there are reasons and confirmations, the limits can be increased, as an exception.
According to the National Bank, the volume of such shadow transfers can amount to billions of hryvnias.
Also, as part of countering shadow payments, the regulator plans to introduce requirements for financial companies regarding the presence of authorized capital, which will be tied to the percentage of operations from the amount of payments.
In February, the first deputy head of the National Bank, Kateryna Rozhkova, reported that the regulator is working on a draft decision to limit card transfers and introduce maximum limits for cash transfers through self-service terminals. After that, he will discuss it with the relevant committee of the Verkhovna Rada.
Subsequently, Vasyl Furman, a member of the Council of the National Bank, said that currently the NBU has not made any decisions regarding the restriction of transfers of funds from card to card by individuals. This issue is considered within the framework of comprehensive measures aimed at combating the shadow economy, he said.
