NBU Implements Temporary P2P Transfer Cap at 150,000 UAH to Curb Illicit Activities
- The National Bank of Ukraine (NBU) sets a 150,000 UAH limit on P2P transfers, effective from October 1, 2024, for six months.
- Restrictions apply only to outgoing transfers between individual accounts at different banks.
- 98% of monthly bank transfers by clients are below the new limit, ensuring minimal disruption.
- The regulation aims to combat illegal financial activities and money laundering.
A notable aspect is that this limit does not affect transfers using IBAN details, internal transfers, or transactions to corporate accounts, maintaining seamless financial operations for most users.
The NBU’s initiative is a proactive step towards enhancing financial security, with plans for stricter compliance requirements and increased fines for regulatory breaches in the future.
