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Ukrainians May Use Funds from Seized Accounts

Ukrainians whose bank accounts were seized by the public or private enforcement agencies are allowed to use their funds. The main condition is that the amount to be recovered from an individual under the enforcement document should not exceed UAH 100,000.

The Cabinet of Ministers of Ukraine has approved the decision aimed at providing for the essential needs of the population under martial law by Ordinance No. 198-р On Ensuring Household Settlements Under Martial Law dated 2 March 2022.

In addition, according to the Ministry of Justice of Ukraine, if an account is opened by a client whose funds were seized by the bank, clients can open such account and use it for debit transactions regardless of the seizure until the martial law in Ukraine is lifted.

The NBU has already informed the banks about the procedure for debiting seized household  accounts and calls on the banks for taking them into account when providing services for citizens.

“In times of war Ukraine cannot leave its citizens without a possibility of disposing of their funds to satisfy their essential needs. We ask the banks to take a responsible approach to the issue and offer such possibility to clients whose accounts were blocked before the war,” stressed the NBU Deputy Governor Oleksii Shaban.

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