With the start of a full-scale war, a number of restrictions were introduced on foreign currency transfers, SWIFT transfers and even hryvnia transfers to card accounts. Despite the strict rules, it is possible to find a way out of this situation, so it is worth figuring out what opportunities remain for transfers and whether they are difficult to do.
How much money can be transferred abroad from Ukraine
Currently, Ukrainians can make SWIFT currency transfers abroad only in exceptional cases, which include the following purposes:
- purchase of some goods for the Armed Forces;
- tuition fees;
- payment for treatment and transportation of patients;
- covering the costs of returning the body of the deceased abroad;
- payment of alimony;
- fulfillment of obligations under external credits and loans.
All other SWIFT transfers abroad are temporarily not carried out.
There is another method of transfers abroad, which is provided by Ukrainian banks — P2P. Thanks to them, you can transfer funds from a Visa or MasterCard currency card from a Ukrainian bank to a card of a foreign bank, but no more than UAH 100 equivalent per month.
Ukrainians often use the hryvnia to transfer money to their relatives in other countries, if both the sender and the recipient have a card in the national currency. In this case, the same rules apply as during transfers within Ukraine, but there are also restrictions, and they may differ, depending on the bank and payment system (Visa or MasterCard). You can focus on an amount equivalent to $10-25 thousand per month, but it should be specified separately in each financial institution.
But even after the hryvnia is transferred, there are also limits for its spending. The limit for withdrawing funds from a hryvnia card abroad is 12,5 thousand hryvnias per week. You can use it to calculate up to UAH 100 per month.
How much cash can be taken abroad
When crossing the border, every citizen has the right to take out cash equivalent to 10 euros without declaring these funds. The export of larger amounts is also allowed, but in this case a document will be required to confirm:
- withdrawal of cash from one's own bank accounts and receipts for currency exchange transactions with this cash;
- withdrawal of cash from own accounts for the purpose of export, which is valid within 90 calendar days from the day of withdrawal.
You should also be prepared for the need to prove the legality of receiving this money due to strict financial monitoring rules. As banks explain, the list of documents to confirm this can be individual. For example, a tax declaration, statements of deposits, a contract for the provision of services, etc. In short, it can be difficult to prove the legitimacy of income.
Transfers abroad in cryptocurrency
According to various estimates, Ukraine is traditionally among the top ten countries in the world in terms of the distribution of cryptocurrency. It is believed that there are no limits on transfers in the crypto world, however, this is only if a person already has cryptocurrency. On the other hand, it is also not easy to buy it and transfer it abroad.
Last year, the National Bank set a limit of UAH 100 per month for the purchase of cryptocurrency. However, now even within this limit it is extremely difficult to buy crypto. The fact is that the participants in schemes for withdrawing funds from fraudulent companies used similar gateways to top up clients' accounts or receive funds from them.
As a result, all these channels were blocked at the same time and remain so until now, and Ukrainian crypto investors were left without the opportunity to replenish their accounts or withdraw their own money.
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