The NBU has refuted information about the blocking of accounts due to frequent cash withdrawals

The National Bank of Ukraine has refuted the information disseminated in the media about the alleged blocking of bank accounts for withdrawing cash more than three times a month. This is reported by UNN with reference to the statement of the National Bank.

Some media and Telegram channels are spreading unreliable and manipulative information that Ukrainians may have their bank accounts blocked for frequent cash withdrawals – more than three times a month, especially in large amounts, and for frequent use of cash loans. We emphasize that this information does not correspond to reality!

The National Bank stated that the media that disseminated this information refer to the “recommendations of the National Bank of Ukraine on strengthening financial monitoring in Ukraine”, without specifying specific documents. However, the NBU assured that there are no requirements in any recommendations, letters, regulations or other official documents to block accounts for such transactions.

“Banks, payment and financial institutions continue to act and conduct proper verification of their clients solely within the framework of the legislation on financial monitoring, applying a risk-based approach”, the National Bank emphasized.

Recall

The largest Ukrainian banks have signed a Memorandum to ensure the transparency of the payment services market, which includes the establishment of limits on transfers – this will also apply to transfers by IBAN details, which will be set from February 2025.