Monobank's First Pricing Update Since 2017
In its first pricing revision since 2017, Monobank has announced that all IBAN transfers from a user's own funds are now free of charge. This marks a significant shift from the previous policy, where a 0.5% fee was applied to transfers exceeding 10,000 Ukrainian hryvnias. These new terms, which simplify banking for customers, replace the original fee structure that had been in place since the bank's launch.
New Nationwide Limits on Money Transfers
Starting June 1, 2025, new market-wide monthly limits on transfers will take effect across Ukraine. Specifically, the monthly cap on money transfers has been reduced from 150,000 to 100,000 hryvnias. This regulation applies to both peer-to-peer (P2P) card transfers and payments made via account details. For clients classified with 'medium' or 'low' risk levels, the monthly limit is set at 100,000 hryvnias, while for those with a 'high' risk level, the limit is lowered to 50,000 hryvnias per month.
It is important to note that these restrictions do not apply to official transactions conducted by volunteers or clients with verified sources of income.
“From now on, all IBAN payments from your own funds in mono are free.”
Oleh Horokhovskyy, Monobank Representative
These changes represent a mixed development for Ukrainian banking customers. The move to free IBAN transfers is a clear benefit that will streamline personal finance management. However, the introduction of stricter monthly transfer limits may pose challenges for users who regularly make large transactions. This comes as Ukraine's financial sector continues to adapt to both wartime conditions and regulatory evolution, making it crucial to monitor market response and potential shifts in consumer behavior.