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The National Bank of Ukraine Removes the Remaining Restrictions on the Withdrawal of Funds from Bank Accounts

23 August 2017

Press Release



The National Bank of Ukraine presses ahead with easing anti-crisis foreign exchange restrictions that lost their effectiveness and relevance and their relaxation will have no impact of the FX market. The next round of relaxations in rules shall apply to FX transactions performed by individuals and businesses, as well as banks’ interbank FX market operations.


First, individuals will be able to withdraw foreign currency cash or investment metals from current and deposit accounts through cashier’s offices and ATMs without any limitation on the amount. 


As a side note, under the rules effective from September 2016, there was a limit on withdrawals   from current and deposit accounts and bank customers were allowed to withdraw  up to the equivalent of UAH 250,000 per day per customer. Currently, the NBU deems it possible to remove this restriction given a substantial  improvement in the banking sector liquidity and FX market stabilization. At the same time, this move will help further restore depositors' confidence in banks.


Second, the NBU adopts a more relaxed approach to the issuance of bearer savings certificates (CDs). Thus, the regulator has lifted a ban on the issuance of bearer savings certificates (CDs), effective up to now, and repealed a requirement for these saving (deposit) certificates to be redeemed through transfer of money to the account of certificate’s owner or bearer. In addition, the NBU has repealed a requirement for savings certificates (CDs) denominated in foreign currency to be issued with a maturity of at least six months.


Meanwhile, the NBU has extended the list of exemptions from the ban on early repayment of loans to foreign lenders if the nonresident lender's shareholders are a foreign state or a foreign bank. This foreign country  should have an official rating no lower than A, as confirmed in a bulletin of one of the world’s leading rating agencies (Fitch Ratings, Standard&Poor’s, Moody’s).


The NBU has simplified the rules for calculating daily limits on net FX purchases by banks under the “tod”, “spot”, “forward” transactions.  These novelties aim to promote forward transactions and further development of currency risk hedging tools.


The aforementioned FX liberalization measures  are approved by NBU Board  Resolution No. 81 of 22 August 2017  On Amendments to NBU Board Resolution No. 410 of 13 December 2016 and come into effect from 24 August 2017. 






Last modification   23.08.2017