How to make a transfer safely: what not to write in the payment destination

Information is actively spreading on Ukrainian social networks and chat rooms that banks are blocking accounts for specific words in the payment purpose, such as “gift”, “debt repayment”, “for goods”, or “for services”. This can allegedly lead to suspicion and account checks. However, the banks explained the situation and provided clarifications.

Experts indicate that monitoring systems do analyze the purpose of payments, but it is much more important to focus on the user’s general activity rather than specific words. Anna Dovgalska, Deputy Chairman of the Board of Globus Bank, noted that financial monitoring focuses on the frequency of transactions, unusual amounts, and payments that do not align with usual financial habits.

If, for example, a client often receives transfers with the wording “gift” or “debt repayment”, this may raise questions not about the words but about the nature of the transactions, which may indicate hidden entrepreneurial activity or tax evasion.

Although certain trigger words associated with fraud or risky financial transactions do exist, banks rarely block transactions solely because of a specific word. Usually, an automatic flag triggers additional verification, but not an immediate account block.

Banks recommend caution when wording the payment purpose, especially for transfers between individuals. For example, if you are transferring money to a relative, it is better to use wording such as “transfer of own funds”. In contrast, “payment for goods” or “payment for services” is not recommended if the recipient is not an individual entrepreneur. Although such a payment will not necessarily be blocked, the bank may request additional explanations or documents.

Raiffeisen Bank emphasizes that if a payment is subject to verification, bank employees will contact the client for clarification and will not automatically block the account. FUIB also noted that the payment purpose is not decisive; more importantly, the income amounts correspond to the data the client provided to the bank.

Monobank and PrivatBank refute the widespread lists of “forbidden words” as fakes and recommend relying on official explanations. Experts conclude that banks are not trying to complicate transfers between people – monitoring systems are designed to combat money laundering and fraud. Although isolated cases of blocking are possible, this is mainly due not to a single word but to a complex of suspicious signals.