Banks will again block the accounts of Ukrainians for debts

Banks will resume mass blocking of customer card accounts at the request of government officials.

This is due to the entry into force of the law adopted by the Verkhovna Rada (Ukrainian Parliament) in April, which cancels the effect of the Cabinet of Ministers resolution, which lifted the arrests of the executive service in the amount of less than 100 thousand hryvnias during the martial law.

Law No. 3048–IX allows customers with arrests to use only the amount of two minimum salaries (13 400 hryvnias), but only on the condition that the client turns to the executor, and he, in turn, sends the bank a resolution to remove the arrest in the amount of 13 400 hryvnias on one of the clientʼs accounts.

Since the law has already entered into force, banking institutions have returned the seizures of funds on customer accounts that were withdrawn during martial law. According to Oleh Horohovsky, this will affect approximately 436 000 account holders among monobank clients only. Across the country, this number will be significantly higher, as all banks will comply with the new law.

• At the beginning of March 2022, the Cabinet of Ministers adopted a decision according to which Ukrainians whose accounts were seized by state executive bodies or private executors can use their funds. The only condition for the unblocking of the funds was the requirement that the amount of the enforcement document should not exceed 100 000 hryvnias. "In the conditions of war, the state cannot leave Ukrainians without the opportunity to dispose of their funds for the basic needs of life," the Deputy Chairman of the National Bank Oleksiy Shaban.