monobank to return account freezes for 430,000 clients due to new law
This law cancels the effect of a government resolution that lifted account freezes of less than 100,000 UAH during the martial law
Virtual monobank, like other banks, will return temporarily lifted account freezes for individual clients due to the entry into force of the law on Amendments to Certain Laws of Ukraine Regarding the Activity of Private Executors and Enforcement of Court Decisions, Decisions of Other Bodies (Officials) During the Period of Martial Law.
This was reported by the bank's co-founder, Oleh Horokhovsky.
"Since the law has come into force, we have to return the freezes that were lifted due to the martial law. This will affect approximately 436,000 of our clients," he said.
He clarified that this law cancelled the effect of the Cabinet of Ministers' resolution, which lifted the executive service's freezes on amounts less than 100,000 UAH during the state of war.
"The new law allows clients with account freezes to use an amount equal to two minimum wages (13,400 UAH) provided that the client applies to the executor and the latter, in turn, sends us a resolution to lift the freeze on the amount of 13,400 UAH on one of the client's accounts," Horokhovsky noted.
According to him, nothing can be done about this, and all banks will comply with this rule.
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