The National Bank of Ukraine has decided not to extend the regulatory restrictions in the amount of UAH 150,000 per month for outgoing transfers (also known as P2P, C2C) on all accounts of individual clients opened in one bank to the accounts of other individuals.
This is stated in the NBU message, the Ukrainian News agency reports.
These restrictions stimulated the development of comprehensive joint solutions aimed at minimizing the use of the payment infrastructure in illegal activities, both through legislative changes and through market self-regulation by signing a corresponding Memorandum.
The National Bank has developed a concept for a register of persons requiring enhanced control of payment transactions.
The proposal will be sent to the relevant committee of the Verkhovna Rada of Ukraine for further consideration in April.
Last year, the NBU recorded an anomalous surge in the volume of transfers between individual accounts, which has now decreased due to the introduction of regulatory restrictions, the NBU's communication that drew the market's attention to the problem of drops, and the implementation of the Memorandum.
The short-term trend of a rapid increase in the number of open payment cards, which was recorded in September-October last year, has also stopped.
The National Bank will continue to monitor the situation and work on other initiatives that will increase the effectiveness of the fight against criminal schemes involving drops, and, if necessary, will take additional measures in accordance with its regulatory mandate.
As the Ukrainian News agency earlier reported, in December 2024, Ukrainian banks, coordinated by banking associations, signed a Memorandum on Ensuring Transparency in the Functioning of the Payment Services Market.
The signatories to the Memorandum undertake to make customer transfers taking into account the implemented risk-based approach.
That is, limits are not set for transactions of clients with confirmed sources of income.
Payment service providers that have signed the Memorandum undertake to set limits (which also apply to transfers using IBAN details) for transactions of clients without documented income.
The establishment of limits for transfers of funds through the memorandum of banks took place under the influence of the state. This opinion was expressed to journalists by the member of the Verkhovna Rada from the European Solidarity faction, member of the Committee on Finance, Tax and Customs Policy Nina Yuzhanina.
Card transfers of Ukrainians decreased by 6 pp to 31.1% in 2024 compared to 2023, when they were 37.1%.
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