All you need to know about the restrictions on remittances to Ukraine

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Every year, Ukrainians receive almost five times more money in Ukraine than they transfer abroad. This is not surprising. After all, hundreds of thousands of our citizens live and work in Europe, Canada, USA and others. And, of course, everyone wants to financially support their relatives who remained in Ukraine. Are there restrictions to a transfer of money to Ukraine? What are the transfer limits? This is covered in our article.

Are the limits on money transfers to Ukraine subject to monitoring?

April 28, 2020, came into force the Law of Ukraine “On prevention and counteraction to legalization (laundering) of proceeds from crime, terrorist financing and the financing of proliferation of weapons of mass destruction” on December 6, 2019, № 361 – IX, which clearly prescribed amounts to be monitoring and verification rules. The law mainly affected those who conduct business and accept payments through terminals from third parties, but practically did not affect the field of international money transfers. Firstly, because the amount by which the financial monitoring begins, the Law was raised to 400 thousand UAH per month, which at times exceeds the limits set in the system. And secondly, all senders and recipients have already been verified by their banks when opening accounts.

Are there limits on the transfer of money to Ukraine in a bank account?

Law No. 361 – IX refers to the owners of bank accounts. For them, nothing will change, because the banks are aware of your operations. Neither the Law nor the National Bank of Ukraine introduces any new limits on money transfers.

How affect new restrictions on the transfer of money to Ukraine Perekaz24 service users?

To use the service you need to pass the stage of registration, specifying your personal data, also after the registration in the system, you need to confirm your card, it will be verified in the system. In addition, our customers are already the owners of bank accounts, respectively, the new changes will not affect them.

Money transfers are as transparent and understandable as possible. The service is provided on the basis of the provision of payment services authorization by the Financial Supervision Commission (Poland) as the national payment agencies issued for Transfer24 Sp. z o.o. (IP5 / 2013) and the approval of the National Bank of Ukraine to provide services in the nature of the international system of money transfers issued for Meest Corporation Inc. (53-02010 / 16274).

Restrictions on transferring money to Ukraine in the Perekaz24 service

Restrictions on transferring money to Ukraine

When planning to use our convenient service, you will surely be interested in whether there is a limit on the transfer of money from abroad. Here it is necessary to know two important nuances:

  • on the number of transfers: in our system, there is no limit on the number of transfers, set only a daily limit on the total amount. Please also note that the translation of the card by the issuing banks may be additional limits or restrictions are set. They are regulated by the rules and tariffs for servicing the sender’s or recipient’s card, and can be changed upon a call to the bank’s call center;
  • of the amount of transfer: standard monthly limit – 2000 USD or equivalent selected currency remittance. If you want to increase the limits on the transfer of money in Ukraine, you must submit an application to the Perekaz24 system using the “Increase the limit” function. After confirmation of the limits on translation will be 8000 USD per month, or the equivalent in the currency of your choice.

Our service is up and running, both for small transfers, even from US $ 1 when someone urgently needs to top up the card, and large amounts that you submit for financial assistance to the families and loved ones in Ukraine. The main advantage – is the ability to instantly transfer money without leaving home.

We select a few important advantages of Perekaz24 service:

  • the ability to transfer funds both to the card and to receive currency in cash at the bank;
  • you can transfer money from Europe, USA, Canada. The full list of countries is here;
  • ease of use of the service – registration only takes a few minutes, after which you can make transfers at any time;
  • if you send funds to a card of a Ukrainian bank, then the recipient immediately receives a message about the receipt on the account;
  • When transferring cash, SMS is sent to the recipient immediately. Get the money will be dependent on the schedule of the nearest bank branch;
  • so that you could see how simple it is – the first translation is free. It will be charged a fee, which is 1.5% of the amount;
  • the minimum limit for the transfer of money from abroad – a bank card 10 UAH when receiving cash – 1 USD / EUR.

We cooperate with the majority of banks in Ukraine. Get the money can be in one of the 3,500 branches located throughout the country. Rate and you are convenient to transfer funds from service Perekaz24.

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