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All bank accounts in Ukraine to be switched according to EU standards

New number length will be consisting of 29 alphanumeric numbers
17:33, 31 July 2019

Open source

All banking systems of Ukraine switch to the European standard for International Bank Account Number (IBAN), as AIN information agency informs.

Now the length of numbers makes 14 symbols and the bank code is stated in documents separately. The number of processing consists of 29 alphanumeric symbols according to the IBAN standards. It consists of the country code (UA), check position (2 numbers), account number (from 5 to 9 numbers) and bank code (6 numbers).

It stands to mention that including of the IBAN will start from August 5 and will become required for all clients of all the banks in Ukraine from November 1, 2019.

The change is related only to bank accounts. The credit cards will be valid.

The National Bank of Ukraine notes that switch to the IBAN will lead to a reduction of requisites for payment documents and remittances both within and outside the country will become faster.

Related: How could Zelensky defend PrivatBank?

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