Ukrainian banks have completed the transition to IBAN standard

Украинские банки завершили переход на стандарт IBAN

Ukrainian banks have completed the transition to international standard Bank account numbers IBAN. From now on, the customer account numbers will contain 29 characters, consistent with the requirements of the standard IBAN in Europe.

As stated a press release of the National Bank of Ukraine, published on Saturday, on the regulator’s website, the transition to IBAN started on August 5, 2019 and lasted until 31 October 2019. Statistics of the National Bank confirms that more and more customers are carrying out calculations according to the standard IBAN. As at 31 October 2019 103 participants of the electronic payment System had implemented 66% of the total number of payments using IBAN”, – stated in the message. At the same time, up to 12 January 2020 you can use the payment details that were used before the introduction of this international standard. During this period, banks will accept for execution the documents for the transfer of customer funds that have filled a couple of the details of the “Bank Code” and “Expense”, or account standard IBAN. The final transition of all clients accounting standard IBAN is scheduled from January 13 2020.

On the eve of the NBU postponed the full transition to the IBAN until the beginning of 2020.

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