Cryptocurrency and Currency Exchange: What Phrases Can Get Your Bank Account Blocked

Ukrainian banks have started to block accounts of clients more frequently due to suspicious transactions and 'dangerous' phrases in payment purposes. This is all related to enhanced financial monitoring and the requirements of NBU Resolution No. 65. This is reported by Telegraph.

Lawyers emphasize: the user may not even receive a warning about the block – access to funds simply disappears. This happens automatically: special bank programs analyze the movement of funds and activate when a 'trigger' is detected.

Reasons Why Banks Block Accounts

There are several main reasons for blocking:

1. Mismatch of the client profile. If suddenly much larger amounts than declared start arriving on the card without explanations or documents – the account may be blocked.
2. Suspicious transactions. Frequent transfers from different individuals even for small amounts (500–1000 UAH) may be regarded by the bank as hidden entrepreneurial activity.
3. Signs of cryptocurrency trading. Payments from exchanges or brokers – a risk of blocking, as cryptocurrency is still not legalized in Ukraine.
4. Active withdrawal or deposit of large sums. In different banks, 'large' operations are considered those from 10 to 50 thousand UAH and above.
5. Suspicious phrases in payments. 'For cryptocurrency', 'currency exchange', 'for goods/services' (if not for a private entrepreneur), 'debt repayment' during regular transfers – all these formulations may be interpreted by the system as a risk signal.
6. Inability to verify income. The bank requires tax declarations or certificates OK-5, OK-7, documents about property sales or inheritance.
7. Ignoring bank requests. Lack of response or false information – another reason for blocking.

How Blocking Works

The process is completely automated. A human does not check each operation – computer algorithms do. If the system detects a risky action, the account is blocked instantly. The client often learns about this only when they cannot withdraw money or pay for a purchase.

Lawyers advise being cautious with wording in transfers and not to use words that could be 'triggers' for financial monitoring.