Ukrainians may be subjected to stricter payment restrictions, calculated individually by algorithms

Starting June 1, 2025, Ukraine will further tighten limits on money transfers for individuals.

Currently, citizens can make money transfers (P2P + IBAN payments) totaling up to 150,000 UAH (approx. €3,215) per month, or 50,000 UAH (approx. €1,072) for high-risk groups — with exceptions for volunteers and individuals with high official incomes. However, starting in summer, the standard monthly transfer limit will be reduced to 100,000 UAH, while the 50,000 UAH limit for risk groups remains unchanged.

Last week, Ukrainian media published a statement from Dmytro Hlynskyi, Executive Director of the Independent Association of Ukrainian Banks — the initiator of the restrictions. He said that financial institutions might revise or even remove the limit in the future.

“Right now, easing of P2P restrictions is not being discussed. But if effective tools to combat ‘drops’ [fraudulent proxy accounts] are introduced — especially a national register and automated income verification systems — then the need for unified limits may disappear altogether,” Hlynskyi said.

Still, financial experts interviewed by journalists believe that if general limits are lifted, the public won’t benefit. Instead, the rules will become even stricter.

“We currently operate within a general framework of 50,000–150,000 UAH, which will shift to 50,000–100,000 UAH from June 1. Most people fit into that: both those who provided salary certificates and those who verbally stated their income. As long as clients didn’t make suspicious transactions — such as buying crypto or sending/receiving 10–20 payments per day — they faced no extra restrictions. But if the general limit is removed, the National Bank will likely require us to tighten financial monitoring even more.”

“Then, banks will begin demanding official income certificates from everyone, including those who were previously exempt. Based on these certificates, personalized transfer limits will be assigned to each client,” explained the head of a commercial bank.

According to bankers, personal limits are already applied to some clients, with thresholds above or below the 50,000–150,000 UAH range depending on verified income. However, this practice is not yet widespread.

If general limits are abolished, personalized limits would become mandatory for all individuals, and enforcement will be much stricter.

“Currently, clients can just declare their average income in a form, and the bank may not ask for proof — they often take people at their word. But if new rules eliminate general caps, and banks are forced to toughen financial monitoring again, income certificates will become mandatory for everyone. A client’s official monthly income — as stated in the certificate — will determine their individual transfer limit. This will be calculated automatically by algorithms. Some banks might allow transfers up to 1.5x the declared salary, others may use a multiplier of 2–3,” said the treasurer of a major bank.

Financial experts believe that the transition to personal limits will likely be disadvantageous for a large part of the population, since many Ukrainians still cannot officially prove high income due to widespread “under-the-table” salaries.