Banks will be able to block anonymous deposits over UAH 5,000

For 2 years now, the financial system of Ukraine has been reformed, financial monitoring has been introduced, so banks can track your transactions, from whom they come and what amounts. If the sums for bank employees are implausible, then in this case the bank may block such cards and transactions.

This information is also confirmed by the Law of Ukraine on financial monitoring, which came into force on January 1, 2022. (Also, from January 1, 2022, changes to the Tax Code came into force, you can also familiarize yourself with them on our website).

The Law of Ukraine on financial monitoring states that if several payments of UAH 5,000 each are received on the card per day, the bank may temporarily block the client’s account / card and contact him for clarification. The law does not apply to:

  • payment of housing and communal services, taxes, fines, other mandatory fees and charges (regardless of the amount);
  • payment of a loan in the amount of up to UAH 30,000;
  • transfers to pay for goods and services made by the payer using a card or other electronic means of payment, if its number accompanies the transfer (regardless of the amount);
  • all cash transfers within Ukraine in the amount of up to UAH 5,000;
  • withdrawal of funds from your own account.

Actually, due to the tightening of financial monitoring of citizens, many are trying to legalize their money in Ukraine. Someone chooses the method of legalizing income through property, because of this there is such a rush to buy real estate, because instead of legalizing their income through a one-time payment of tax, you can buy real estate from the so-called money obtained illegally, and allegedly rent it for rent, and the minimum and maximum threshold for rent is not provided.

Also, in connection with financial monitoring soon, even in order to buy real estate, you will have to confirm the origin of funds, and cashless payments will soon completely disappear as a species, and all transactions will go through the bank, and will be open to any verification.

Therefore, we advise you to comply with the laws of Ukraine and adhere to them in any transaction, otherwise you will often have to deal with bank employees to unlock your card. Also, if you are planning to buy real estate in the near future, you can always contact us: United International Partners, and we will check the property so that you do not have any problems in the future.

The Immigration Law Office was established in 2007. It provides assistance to foreign clients in Kiev (KV), Odessa (OD), Dnipro (DP), Lviv (LV), Kharkiv (KH), Lugansk (LG) and Donetsk (DN) regions, Crimea (KR) and others regions of Ukraine.

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