Introduction of the International Bank Account Number (IBAN) in Ukraine is an important step for the development of the Ukrainian payment infrastructure.
As of 5 August 2019, all banks open new customer accounts only according to the IBAN standard and existing accounts are being gradually (till 31 October 2019) converted to this standard.
Today, banks accept documents on fund transfers from customers with filled-out ‘Bank Code’ and ‘Account’ details or account’s IBAN.
Statistics collected by the National Bank of Ukraine (NBU) confirm the positive trend of customer use of the IBAN accounts. As of 1 October 2019, the volume of primary payments according to the IBAN standard in the System of Electronic Payments of the NBU was 61% of the total payments.
At the same time, in response to the request of the State Treasury Service of Ukraine for complete performance of budget-funded programs, the NBU has decided to extend the option of filling out these bank details in documents on fund transfers till 12 January 2020.
So, till 12 January 2020 inclusively, banks will accept documents on fund transfers with filled-out ‘Bank Code’ and ‘Account’ details or account’s IBAN, and starting from 13 January 2020 – only according to the IBAN standard.
This decision is provided by NBU Board Resolution No. 118 On Amendments to the Resolution of the National Bank of Ukraine Board No. 162 dated 28 December 2018 dated 26 September 2019 that enters into effect on 2 October 2019.