Implementing an International Bank Account Number (IBAN)

11.04.2019

The National Bank of Ukraine reports that from August 5, 2019, Ukraine introduces the international bank account number (IBAN), which consists of 29 alphanumeric characters.

UA + XX + XXXXXX + ССССССССССССССССССС

  • UA (two letters, country code)
  • XX (two control digits)
  • XXXXXXX (MFI of the bank in which the client's account is open)
  • ССС ... ССС (19 digits, customer account number. If the number is less than 19 digits, the required number of zeros is added)

Concerning:

Bank customers:

  • from August 5, 2019:
    - they will receive information from the bank about a current account change in accordance with the IBAN standard to inform their counterparties and indicate in payment documents and invoices.
    At the same time, a change in the current account number to the IBAN standard does not lead to a change in the provisions of any agreement with the bank. (bank account agreement / cash management services / bank deposit, etc.);
  • from August 5, 2019 to October 31, 2019, in the documents for the transfer of funds they can fill in the details "Bank Code" and "Account". So, in the documents for the transfer of funds in the details of the payer / recipient, they can fill in both (account number of the payer / recipient and the bank code of the payer / recipient), and the account number of the payer / recipient according to the IBAN standard. In case of filling in the account number of the payer / beneficiary according to the IBAN standard, indicate zero code of the “payer / beneficiary's bank” in the details;
  • from November 1, 2019 in the details of the settlement document “Account” indicate the account number of the payer / recipient only according to the IBAN standard.

All Ukrainian Banks:

  • from 5 August, 2019 to 31 October, 2019:
    - accept for execution documents for the transfer of funds / credit funds to the recipient's account according to the details the filling options of which were selected by the payer client;
    - inform the regulatory authorities about changes in the current accounts of customers - business entities in accordance with the IBAN standard;
    - will submit (without customer applications) to the bodies of the Pension Fund of Ukraine / bodies of social protection of the population a list of accounts according to the IBAN standard;
  • from August 05, 2019:
    - will open accounts (current, deposit (deposit), conditional storage accounts (escrow)) in accordance with the requirements of the IBAN standard;
    - will ensure the generation of a statement of the client’s account from the date of opening the account and the amount of the incoming balance of the current account until the account is changed according to the IBAN standard (“account history”), followed by confirmation of transactions on any date after the change of the client’s current account in accordance with the IBAN standard;
    - they will execute documents for the arrest of funds / forced debiting / collection of funds, regardless of whether the format of the account number indicated in these documents is in accordance with the IBAN standard or the previous standard (the current account until the change according to the IBAN standard / according to the IBAN standard).

You can find out your IBAN at: https://getiban.bank.com.ua