As we reported earlier, in December, four Ukrainian banks, the NBU, the National Association of Banks of Ukraine (NABU) and the Association of Ukrainian Banks (AUB) signed a Memorandum on ensuring transparency in the functioning of the payment services market. Subsequently, 23 more banks and 2 financial companies, which are also payment systems, joined the Memorandum.
This document concerns the interaction of banks and payment service providers with individual clients, individual entrepreneurs and individual entrepreneurs as part of a group of related companies.
By signing the Memorandum, payment service providers undertake to carry out customer transfers taking into account the risk-based approach implemented in the bank. This will mean that banks will not set limits on transactions of clients with confirmed sources of income (in particular, salary clients and other clients with confirmed income), as well as volunteers.
If there is no documented income, then banks are obliged to set limits (which will apply to transfers using IBAN details) for transactions:
- from 02/01/2025 – for clients with a “high” risk level, set a limit of up to UAH 50,000/month;
for clients with “medium” and “low” risk levels – in accordance with the limits and terms of phased implementation:
- from 02/01/2025 – up to UAH 150,000/month;
- from 06/01/2025 – up to UAH 100,000/month.
The limits will not include transactions for transferring funds between two accounts that the client opened in the same bank. If the client has documented income that exceeds the limit set on the date, banks will make transfers within the limits of the confirmed income.
