Banks see no need to increase p2p transfer limit by UAH 100,000 per month
Banking market participantssee no need to increase the base monthly p2p transfer limit of UAH 100,000, as clients with higher official incomes or confirmed source of funds can obtain individual limits, Association of Ukrainian Banks (AUB) President Andriy Dubas told Interfax-Ukraine.
"The UAH 100,000 limit was planned based on a simple principle: the average salary in the country at that time was within UAH 22,000-25,000, meaning the limit exceeded the average figure by about four times," Dubas said during a meeting on signing an updated Memorandum on ensuring transparency in the payment services market.
Dubas said that requests for higher limits have come from clients with larger official incomes and military personnel receiving combat pay. In such cases, clients can confirm income throughOK-5 and OK-7 certificates in the Diia app, after which banks can set individual limits based on the confirmed source of funds.
Banks can also consider other confirmed sources, such as contracts for the sale of cars, real estate, or other property.
"This memorandum concerns new approaches specifically to shell companies with certain indicators and the use of group 1, 2, and 3 individual entrepreneurs for splitting payments and suspicious transactions," Dubas said.
National Association of Banksof Ukraine President Serhii Naumov said on Facebook that 25 banks and non-banking institutions have already joined the updated memorandum.
The memorandum is a market self-regulation tool and does not replace legislation, Naumov said. Each bank will continue to operate within the law and its own risk-oriented approach.
In December 2024, Ukrainian banks signed a Memorandum on transparency in the payment services market. Starting February 1, stricter limits were introduced: UAH 50,000 for high-risk clients without confirmed income and UAH 150,000 for medium- and low-risk clients, with the latter limit set to decrease to UAH 100,000 from June 1. These limits include both p2p and IBAN transfers.
