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Automatically translated version. May contain inaccuracies compared to the original.
Monobank blocks accounts even after income verification: “Universal Bank” fined more than 70 million hryvnias
Monobank blocks clients’ accounts without explanations, while “Universal Bank” receives multimillion-dollar fines for violations of financial monitoring.
Blocking the account, demanding proof of funds’ origin, and then unilaterally terminating service. Monobank clients face account closures even after providing income documents. Legally, these decisions are the responsibility of JSC “Universal Bank” (EDRPOU 21133352) from the Serhiy Tihipko business group. The tech platform is developed by LLC “Fintech Bend” (EDRPOU 32388371), among the owners of which are Oleh Horokhovskyi, Mykhailo Rohalskyi, Yevheniia Kryvenko, Dariia Bukreieva, and the Cypriot Crestline Limited.
In 2025 year the NBU received 60 926 client inquiries to banks, of which 6423 concerned blocking or freezing accounts. Audits are triggered by regular P2P transfers, cryptocurrency transactions, undeclared income, and atypical movement of funds. The bank requires certificates and contracts, but after receiving them may still cease servicing, citing Article 15 of law №361-IX and an unacceptably high client risk.
Even the “Universal Bank” itself in October 2025 year received a fine of 27,3 million UAH for violations of financial monitoring. The total amount of penalties for 2025 year was estimated in publications at 70,4 million UAH. The bank received written warnings. Regulators found deficiencies in customer due diligence procedures and risk management, while conscientious users complain about blocking and formal support responses.
After the state limit of 150 thousand UAH on card-to-card transfers was lifted, banks kept their own restrictions under the memorandum: 50 thousand UAH per month for high-risk clients and 100 thousand UAH for medium and low-risk clients without verified income. The restrictions affect certain transfers via IBAN as well. The memorandum was signed voluntarily by banks and is not a NBU regulatory act.
Point 37 of NBU Resolution №65 of 19 May 2020 prohibits unwarranted de-risking — refusing to service to eliminate risk rather than assess it individually. This stance was reiterated by the National Bank in 6 February 2024 year. In judicial practice, disputes over termination of banking relationships are considered, notably №910/11103/23, №759/1627/25-c and №910/10855/24. The bank’s reference to financial monitoring does not exempt it from the obligation to justify risk assessment, although the law limits disclosure to the client of specific information about checks.
In the summer of 2026 year the head of the NBU, Anders Khishny, drew attention to the peculiarity of the monobank model: Horokhovskyi is not part of the management of “Universal Bank,” and the technology company is not under the same banking supervision. At the same time the NBU continues to monitor the licensed bank that is responsible for clients’ accounts, operations, and bank secrecy. New requirements for managing third-party risk are enshrined in Resolution №70 of 30 June 2026 year.
Clients may appeal account closures, demand a written decision, and contact the NBU or court. Law №361-IX allows termination of service under established grounds, but Resolution №65 requires individual risk assessment. It is precisely adherence to these requirements that leads to disputes between clients and “Universal Bank.”
Document: PDF proof of the original version of the news item "Monobank блокує рахунки навіть після підтвердження доходів: «Універсал Банк» оштрафували на понад 70 мільйонів гривень". It records the publication content at the moment of the first scan, the preservation date and the source: ANTIKOR.
