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Publication date: 17.10.2024
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Consultation of "Consultant" lawyers regarding the restriction of transfers
Due to economic and political challenges, the National Bank of Ukraine is actively implementing regulations to stabilize the financial system during martial law. One of these measures is the limitation of card-to-card fund transfers. NBU Board Resolution No. 102 of August 27, 2024, which amends the previously introduced restrictions, became the key regulation of this issue. In the article, we will consider the main provisions of this resolution, possible exceptions, and also talk about the legal services of the "Consultant" service, which will help citizens understand and act correctly in the new conditions.
Question
What does the NBU resolution provide for limiting card-to-card transfers?
Respond
The resolution of the National Bank of Ukraine dated August 27, 2024 introduces restrictions on transfers within Ukraine between individuals exceeding 150,000 hryvnias per month. This restriction is valid from October 1, 2024 to March 31, 2025. Transfers made using the details of electronic means of payment, i.e. cards of natural persons, are prohibited.
Question
Is there an exception to the transfer limit?
Respond
Yes, restrictions do not apply to transfers between individual user accounts. In addition, restrictions may be partially or completely lifted for volunteers who confirm their activities with appropriate documents.
Question
How to prove volunteering to avoid restrictions?
Respond
In order to recognize volunteer activity, an individual must meet several requirements.Among them are official registration as a volunteer, confirmation of typical fundraisers on the account, cooperation with government bodies or charitable foundations, as well as open confirmations from the Internet or social networks regarding the transparency of fundraisers.
NBU Resolution No. 102 of August 27, 2024 was another important step in strengthening control over financial transactions during martial law. It introduces significant restrictions on transfers between individuals exceeding 150,000 hryvnias per month. This regulation aims not only to ensure the transparency of cash flows, but also to prevent possible financial abuse. For many citizens, these changes may raise questions about how they will affect their financial transactions.
NBU Resolution No. 102 limits transfers between individuals exceeding UAH 150,000 per month.
Exceptions to the restrictions may be applied to volunteers, provided they provide proof of volunteering.
Lawyers of the "Consultant" service provide a package of services for legal support in matters related to transfers and restrictions.
The main points regarding the limitation of card-to-card transfers:
Monthly transfer limit - the National Bank of Ukraine introduced a limit on transfers between individuals within the limit of 150,000 hryvnias per month using the details of electronic payment means, which significantly affects ordinary financial transactions of citizens.- Volunteer activity - exception - transfers made by volunteers are not subject to restrictions, provided that they comply with the requirements confirming their volunteer activity, in particular, registration and cooperation with state institutions or charitable foundations.
Protection against abuse - the NBU requires payment providers to develop internal procedures for control and monitoring of transfers, which aims to prevent fraudulent activity and transparently regulate fund collections.
Lawyers of the "Consultant" service provide qualified assistance in explaining the provisions of this resolution, and also offer a full package of consulting services regarding rights and restrictions related to fund transfers. Below you will find answers to the most common questions about transfer restrictions and a description of services that can help in such situations.
List of legal services of the "Consultant" service regarding restrictions on money transfers
The lawyers of the "Consultant" service offer a wide range of services to help individuals who are faced with restrictions on fund transfers within the framework of the new NBU resolution. Here are the main ones:
- Consultations regarding NBU Resolution No. 102 and other regulatory acts. Lawyers explain in detail all the provisions of the resolution, as well as other legislative acts regulating the transfer of funds during martial law. Consultations can be provided online or during a personal meeting.
- Analysis of client activity to determine the possibility of applying exceptions
. Lawyers will help analyze the client's financial activities and provide recommendations on avoiding restrictions. This may be useful for volunteers or individuals with proven sources of income above the established limit.
Legal support for volunteers.
- For those who are engaged in volunteer activities, the "Consultant" offers assistance in collecting and submitting the necessary documents for recognition of this activity. Lawyers will help you prepare all materials correctly to avoid restrictions on transfers.
- Consultations on volunteer meetings and their transparency.
Lawyers of the "Consultant" service provide advice to volunteers on the rules of organization and management of fundraising, so that their activities meet the requirements of the NBU.
- Verification of negative information and reputational risks.
A team of lawyers helps to verify information that may negatively affect the reputation of a volunteer or an individual in order to avoid potential problems with banks and payment service providers.
Resolution of the National Bank of Ukraine No. 102 of August 27, 2024 significantly affects transfers between individuals in Ukraine, setting a limit of more than 150,000 hryvnias per month. However, thanks to qualified legal assistance, you can not only avoid problems with banking transactions, but also find ways to legally limit transfers. The "Consultant" service offers a package of services for solving issues related to new financial restrictions, which allows clients to carry out their transactions safely and legally. "Consultant" lawyers are ready to provide advice, conduct a legal analysis of clients' activities and help volunteers in preparing the necessary documents for removal of restrictions. The package of services provides a comprehensive solution to protect your financial rights in the new conditions of the financial market of Ukraine.
