The end of salaries in envelopes?
Posted: Tue Jun 17, 2025 8:59 am
So, in my opinion, the story about limiting account transactions to prevent fraud is just the official version of the NBU.
The National Bank of Ukraine, as the regulator of financial and banking policy, has all the powers to “tighten the screws” on transfers for individuals. Today, a number of restrictions are already in place: a ban on transfers of funds by individuals abroad, limits on withdrawals abroad from accounts in foreign currency and hryvnias, limits on the amounts of card payments. Until now, transfers between individuals from card to card had no restrictions or prohibitions, except for financial monitoring procedures.
Analysts claim that over 70% of salaries in Ukraine are paid “in envelopes”. And it is clear that special database envelopes in the modern world are “digital”, people receive transfers to the card. Limiting the number and amount of such transfers, it should be assumed, will force entrepreneurs to look for options, one of which may be the payment of “white” salaries or registration of employees by entrepreneurs. One way or another, the effect of legalization is expected.
At the same time, this restriction will cut off oxygen to many other operations. A person doing repairs transfers funds to the foreman or craftsman's card to purchase materials. People often transfer funds to parents, children, relatives, friends, make donations to volunteer accounts, which is also taken into account in the number and amounts of transfers from card to card. Now each transfer will need to be thought out, their number optimized. Or open more accounts in different banks to reduce the pressure of this restriction.
The National Bank of Ukraine, as the regulator of financial and banking policy, has all the powers to “tighten the screws” on transfers for individuals. Today, a number of restrictions are already in place: a ban on transfers of funds by individuals abroad, limits on withdrawals abroad from accounts in foreign currency and hryvnias, limits on the amounts of card payments. Until now, transfers between individuals from card to card had no restrictions or prohibitions, except for financial monitoring procedures.
Analysts claim that over 70% of salaries in Ukraine are paid “in envelopes”. And it is clear that special database envelopes in the modern world are “digital”, people receive transfers to the card. Limiting the number and amount of such transfers, it should be assumed, will force entrepreneurs to look for options, one of which may be the payment of “white” salaries or registration of employees by entrepreneurs. One way or another, the effect of legalization is expected.
At the same time, this restriction will cut off oxygen to many other operations. A person doing repairs transfers funds to the foreman or craftsman's card to purchase materials. People often transfer funds to parents, children, relatives, friends, make donations to volunteer accounts, which is also taken into account in the number and amounts of transfers from card to card. Now each transfer will need to be thought out, their number optimized. Or open more accounts in different banks to reduce the pressure of this restriction.