IBAN: safely, quickly way transfer money within Ukraine and abroad as well

UKRSIBBANK BNP Paribas Group harmonizes the Ukrainian payment space with the European one and uses the international bank account number — IBAN. Is a unique identifier for your own bank account that contains pretty much all that is needed to identify your country, bank, and your exact account in just a few numbers.

The use of the IBAN standard due to the reduction of details should make it more convenient to issue settlement documents. Also, the use of IBAN in the future will make it possible to use QR codes, which will contain information about IBAN, to simplify the payment of bills and exchange payment information.

The introduction of IBAN in Ukraine is an initiative of the National Bank of Ukraine. This format of the international bank account number has become mandatory since January 13, 2020 for clients of all banks of Ukraine to make payments in both national and foreign currencies, including for cross-border transfers. That is, all transfers are now made using IBAN only (instead of the bank account number and bank code). In addition, the payment has been sent to the requisites:

bank code + account number
will be returned with the reason for the return — “IBAN only possible”.

It’s important to use the right IBAN for transfer money. You can find your IBAN in UKRSIB online and StarAccess internet banking systems. Your personal manager would be delighted to assist you for comfort using IBAN.

Note that the international bank account number of IBAN in Ukraine is formed in accordance with the National Standard. When making a money transfer, you need to specify 2 letters of the country code Ukraine — UA, 2 digits — a control number, which is calculated according to the algorithm of calculation of a check number, 6 digits identify UKRSIBBANK and 19 digits — this is the customer’s account.

Accounts for loan repayment will also be converted to IBAN. If you have previously used a credit agreement number as a credit card, you can continue to use it. If you are receiving funds from others, you will need to inform the person making the transfers in your favor or replenishing any of your accounts about the new IBAN account number.

At the moment, the transition to IBAN in Ukraine has already been completed — the numbers of all previously opened accounts in banks (individuals, enterprises, government agencies) have been replaced by IBAN, and new accounts are opened only in this format.

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