The limits on card transfers for individuals remain unchanged according to the terms of the memorandum signed by several banks. According to information from Forbes, seven institutions were surveyed: Oschadbank, PrivatBank, PUMB, Raiffeisen Bank, OTP Bank, Bank “Own Account,” and Ukrsibbank. Six of these banks confirmed that their limits remain unchanged.
This is reported by Finway
“Currently, the limits set by the bank for transfers remain unchanged, as the terms of the memorandum are in effect,” reported PrivatBank.
Oschadbank and Ukrsibbank also plan to adhere to the norms of the memorandum. Raiffeisen Bank noted that “the memorandum remains an effective tool for ensuring transparency in the operation of the payment services market going forward.”
At Bank “Own Account,” it was reported that there is no longer a need for limits from the National Bank of Ukraine (NBU) due to the existence of the memorandum, and the cancellation of limits by the NBU will not affect their operations.
Meanwhile, PUMB announced that their limits have been canceled, stating: “The specified limits, which were established for certain categories of clients, have been canceled as of today.”
Recall that on April 1, the National Bank of Ukraine announced the cancellation of the limit on card transfers of 150,000 hryvnias. The regulator pointed to a decrease in abnormal volumes of transfers between individuals’ accounts, as well as a reduction in the number of opened payment cards.
In December of last year, banks signed a memorandum on the phased restriction of limits on card transfers for individuals. Starting June 1, the limit will be reduced to 100,000 hryvnias, and this restriction applies to all types of transfers, including IBAN.