{"id":19704,"date":"2024-12-19T13:38:29","date_gmt":"2024-12-19T11:38:29","guid":{"rendered":"https:\/\/forklog.com\/en\/ukrainian-financial-institutions-endorse-p2p-transfer-restrictions\/"},"modified":"2024-12-19T13:38:29","modified_gmt":"2024-12-19T11:38:29","slug":"ukrainian-financial-institutions-endorse-p2p-transfer-restrictions","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ukrainian-financial-institutions-endorse-p2p-transfer-restrictions\/","title":{"rendered":"Ukrainian Financial Institutions Endorse P2P Transfer Restrictions"},"content":{"rendered":"<p>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 <a href=\"https:\/\/aub.org.ua\/104\/novyny-aub\/14953-draftdo-memorandumu-pro-prozorist-rynku-platizhnykh-posluh-pryiednalysia-shche-22-finustanovy-rezultaty-zustrichi-aub-shchodo-initsiatyvy-borotby-z-drop-skhemamy\">Association of Ukrainian Banks<\/a> (<span data-descr=\"Association of Ukrainian Banks\" class=\"old_tooltip\">AUB<\/span>).<\/p>\n<p>In addition to financial companies NovaPay and RozetkaPay, the signatories include:<\/p>\n<ul class=\"wp-block-list\">\n<li>Ukreximbank;<\/li>\n<li>Ukrgasbank;<\/li>\n<li>KRISTALBANK;<\/li>\n<li>Globus Bank;<\/li>\n<li>MTB Bank;<\/li>\n<li>Radabank;<\/li>\n<li>Idea Bank;<\/li>\n<li>Altbank;<\/li>\n<li>Alliance Bank;<\/li>\n<li>Evroprombank;<\/li>\n<li>Clearing House;<\/li>\n<li>Policombank;<\/li>\n<li>Trust-Capital;<\/li>\n<li>Ukrainian Bank for Reconstruction and Development;<\/li>\n<li>Oxi Bank;<\/li>\n<li>PINbank;<\/li>\n<li>Agroprosperis Bank;<\/li>\n<li>ProCredit Bank;<\/li>\n<li>ComInBank;<\/li>\n<li>Pravex Bank;<\/li>\n<li>Ukrainian Capital;<\/li>\n<li>Sense Bank;<\/li>\n<li>Sky Bank.<\/li>\n<\/ul>\n<p>The memorandum&#8217;s provisions require financial institutions to cap the monthly transfer limit for high-risk clients at 50,000 hryvnias.\u00a0<\/p>\n<p>For medium and low-risk clients:<\/p>\n<ul class=\"wp-block-list\">\n<li>from January 1, 2025 \u2014 up to 150,000 hryvnias per month,<\/li>\n<li>from June 1 \u2014 up to 100,000 hryvnias per month.<\/li>\n<\/ul>\n<p>The restrictions will apply to all transfers, including those using IBAN details. Clients can increase their limit by providing documented proof of income.<\/p>\n<p>The signatories will also participate in developing a centralized registry of suspicious clients to facilitate information exchange and enhance financial monitoring efficiency.\u00a0<\/p>\n<p>Ukrainian authorities justify these measures as a means to combat &#8220;drop schemes.&#8221;<\/p>\n<p>The first to join the memorandum were Oschadbank, OTP Bank, PrivatBank, PUMB, Raiffeisen Bank, Tascombank, and Universal Bank (monobank).<\/p>\n<p>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.<\/p>\n<p>Experts consulted by ForkLog have expressed concerns about the <a href=\"https:\/\/forklog.com\/en\/news\/ukraines-p2p-transaction-limits-threaten-crypto-market-say-experts\">negative impact<\/a> of such restrictions on Ukraine&#8217;s crypto market.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1729,455,686,16],"class_list":["post-19704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-money-transfers","tag-p2p","tag-sanctions","tag-ukraine"],"aioseo_notices":[],"amp_enabled":true,"views":"82","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19704"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19703"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}