Ukrainian banks introduce limits on money transfers

From 1 February 2025, new restrictions on money transfers between individuals will take effect in Ukraine. Banks will set a monthly limit of 150,000 hryvnia for payments made using IBAN details if the client has not provided documents confirming the source of income.

Details of the new measure

The restrictions are being introduced based on a memorandum signed by the country's largest financial institutions. The new rules will apply exclusively to clients who have not documented their income.

Client classification and limits

Banks will categorise such clients into three risk groups:

• High risk — the transfer limit will be just 50,000 hryvnia per month.
• Medium and low risk — the limit is set in two stages:
  • From 1 February 2025 — up to 150,000 hryvnia.
  • From 1 June 2025 — up to 100,000 hryvnia.

Requirement to provide documents

Clients whose transfers exceed the specified limits will be required to provide documents confirming their income. Without this procedure, banking operations exceeding the established limits will be unavailable.