The NBU may lift the UAH 150,000 limit on transfers. But there is one condition
14 February 10:56
The National Bank of Ukraine is potentially ready to cancel the UAH 150,000 limit on card-to-card transfers, but only if banks prove that they are ready to identify risky customers on their own. This was stated by NBU Governor Andriy Pyshnyi in an interview with Forbes, "Komersant Ukrainian" reports.
The official explained that the NBU intends to evaluate the effectiveness of banks’ actions within one to two months, and if their actions to prevent drops prove effective, the National Bank will lift the UAH 150,000 limit for card transfers.
Andriy Pyshnyi believes that banks should improve their internal control systems themselves, use a risk-based method and carefully analyze their clients’ transactions for potential illegal activities.
The NBU also realizes that limits alone cannot solve the problem of drops. Only a comprehensive solution will help: changes in legislation and the introduction of a special register of drops.
As a reminder, starting from October 1, 2024, the National Bank imposed restrictions on outgoing transfers from bank cards (p2p) – their amount cannot exceed UAH 150,000 per month. The regulator explained its actions by counteracting drops, i.e. customers who provide their bank accounts for the illegal activities of others.
on December 10, 2024, seven of Ukraine’s largest banks signed a memorandum introducing limits on card-to-card transfers and enhanced monitoring for individuals and individual entrepreneurs. Subsequently, 23 more banks and 2 financial companies signed the memorandum.
What else did the NBU Governor say?
– In an interview with Forbes, Andriy Pyshnyi explained that the acceleration of inflation was predictable, so at the end of the first half of last year, the NBU stopped the cycle of easing interest rate policy, and in December and January 2025, it raised the key policy rate to 14.5%. According to him, this is a necessary step to keep inflation expectations under control and maintain interest in hryvnia savings. The NBU’s forecast is for inflation to slow in the second half of this year.
– According to the NBU governor, the bank expects banks to review their interest rate policy in the near future and offer adequate rates, taking into account inflation expectations. Mr. Pyshny stated that the December decision to raise the key policy rate by 0.5 percentage points had already stopped the decline in deposit rates at banks, and some banks had slightly increased their rates.
– Mr. Pyshnyi also said that the NBU is ready to discuss the issue of regulating virtual assets both at the parliamentary level and with international partners, especially the EU.
“This market should provide new opportunities without creating dangerous regulatory arbitrage or generating uncontrolled and dangerous risks,” said the NBU Governor.
– The adoption of the law on financial inclusion and the establishment of a financial inclusion bank will help to resolve the issue of access to financial services, especially in the frontline territories, according to Andriy Pyshny. However, it is important that the parliament supports the document in the wording proposed by the NBU.
“This is fundamental. And it is supported by the IMF. This will ensure that the financial inclusion bank complies with all the requirements and regulations of the NBU,” emphasized Andriy Pyshnyi.
He expressed hope that the vision of financial inclusion proposed by the NBU would allow not only Ukrposhta but also other postal operators to join this market.
