NBU reassures: cards will not be blocked for frequent cash withdrawals
8 January 13:19
The National Bank of Ukraine has stated that the information about blocking cards for frequent cash withdrawals is not true. This is stated in a statement by the NBU, Komersant ukrainskyi reports.
The National Bank reminded that some media and telegram channels are spreading false and manipulative information that Ukrainians may have their bank accounts blocked for frequent cash withdrawals – more than three times a month, especially in large amounts, and for frequent use of cash loans.
The NBU emphasizes that this information is not true.
“The media refer to the ‘recommendations of the National Bank of Ukraine on strengthening financial monitoring in Ukraine’ without specifying any specific documents. However, no recommendations, letters, regulations, or other official documents of the NBU require blocking accounts for such transactions,” the regulator emphasizes.
It adds that banks, payment and financial institutions continue to operate and carry out due diligence of their customers solely within the framework of financial monitoring legislation, applying a risk-based approach.
The NBU advises Ukrainians to always trust only verified information from official sources and not to take seriously fake news spread by anonymous telegram channels and unscrupulous media to undermine public confidence in the financial sector of Ukraine.
Limitations on banks’ limits
Last week, Ukraine’s largest banks signed a memorandum that provides for enhanced financial monitoring and new restrictions on card transfers.
Starting from February 1, 2025, all customers who do not have confirmed sources of income will be subject to a limit of UAH 150,000 per month on card transfers. From June 1, this limit will be reduced to UAH 100 thousand.
The memorandum was supported:
- Ukreximbank
- Ukrgasbank
- Crystalbank
- CB Globus
- MTB Bank
- Radabank
- Idea Bank
- Altbank
- Bank Alliance
- EPB
- CLEARING HOUSE
- Polikombank
- TRUST CAPITAL BANK
- Ukrainian Bank for Reconstruction and Development
- Oxi Bank
- First investment bank
- Agroprosperis Bank
- NovaPay
- ProCredit Bank
- Cominbank
- Pravex Bank
- FC EVO (RozetkaPay)
- Bank Ukrainian Capital
- Sense Bank
- Sky Bank
