The National Bank of Ukraine (NBU) may set a limit on IBAN transfers for individuals in the near future.
This is announced by the Interfax-Ukraine agency, Ukrainian News Agency reports.
As one of the agency's interlocutors noted, a limit of UAH 150,000 per month may initially be introduced from January 1, 2025, and from July 1 it will be reduced to UAH 100,000 per month.
Another source added that it will not only concern card-to-card transfers - P2P transactions, which the National Bank of Ukraine has already limited to UAH 150,000 per month in one bank, but also IBAN transfers.
According to him, the first month of the National Bank's restrictions showed that the volume of P2P transactions decreased by UAH 5.2 billion, but at the same time IBAN transfers increased by UAH 4 billion.
IBAN is an international bank account number. It begins with the UA code, followed by 29 digits.
Accordingly, to transfer funds using IBAN, you must select the "transfer by details" option.
Each bank card (even a virtual one) has full bank details with a unique IBAN code. However, when transferring using IBAN, you must additionally indicate the recipient's full name, his identification number, and, of course, the purpose of the payment. That is why the population rarely used this option.
As Ukrainian News Agency earlier reported, from October 1, 2024, the NBU set a limit of UAH 150,000 per month for outgoing transfers of individuals from card to card (P2P, person-to-person), although before that it was considering a stricter limit of UAH 100,000.
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