A memorandum imposing restrictions on outgoing transfers without documented sources of funds has been joined by 23 Ukrainian banks and two payment systems, according to a report from the Association of Ukrainian Banks (AUB).
In addition to financial companies NovaPay and RozetkaPay, the signatories include:
- Ukreximbank;
- Ukrgasbank;
- KRISTALBANK;
- Globus Bank;
- MTB Bank;
- Radabank;
- Idea Bank;
- Altbank;
- Alliance Bank;
- Evroprombank;
- Clearing House;
- Policombank;
- Trust-Capital;
- Ukrainian Bank for Reconstruction and Development;
- Oxi Bank;
- PINbank;
- Agroprosperis Bank;
- ProCredit Bank;
- ComInBank;
- Pravex Bank;
- Ukrainian Capital;
- Sense Bank;
- Sky Bank.
The memorandum’s provisions require financial institutions to cap the monthly transfer limit for high-risk clients at 50,000 hryvnias.
For medium and low-risk clients:
- from January 1, 2025 — up to 150,000 hryvnias per month,
- from June 1 — up to 100,000 hryvnias per month.
The restrictions will apply to all transfers, including those using IBAN details. Clients can increase their limit by providing documented proof of income.
The signatories will also participate in developing a centralized registry of suspicious clients to facilitate information exchange and enhance financial monitoring efficiency.
Ukrainian authorities justify these measures as a means to combat “drop schemes.”
The first to join the memorandum were Oschadbank, OTP Bank, PrivatBank, PUMB, Raiffeisen Bank, Tascombank, and Universal Bank (monobank).
From October 1, 2024, to April 1, 2025, Ukraine has imposed a limit of 150,000 hryvnias per month on outgoing P2P transfers between individuals.
Experts consulted by ForkLog have expressed concerns about the negative impact of such restrictions on Ukraine’s crypto market.