The application of the international bank account number (IBAN) will be introduced in Ukraine on August 5, the National Bank of Ukraine (NBU) wrote on Facebook.
According to its report, the banks will change their operating accounts in accordance with the requirements of the new standard, while maintaining the current number of analytical accounting.
New IBAN-standard accounts will consist of 29 alphanumeric characters: a country code, a check digit, a bank code, and an account number.
Since November 1, the use of IBAN will become mandatory for customers of all banks of Ukraine in the implementation of money transfers, both in national and in foreign currencies, including cross border transfers so that all transfers will be carried out exclusively using IBAN.
After the introduction of IBAN, all payment cards issued by banks to the client’s account remain valid, they are a payment tool that enables the client to transfer funds from a bank account using a payment device.
