The national Bank has delayed the introduction of international Bank account numbers IBAN.
The decision was made at the request of the banking community in connection with the need to ensure quality improvement banks software remote banking systems used by customers.
Start of implementation of IBAN in Ukraine will start from 5 August this year (earlier it was planned from 1 April 2019).
From August 5, 2019, banks will open new customer accounts in the IBAN standard, and existing account numbers to be changed in accordance with the requirements of this standard while maintaining the current numbers of analytical accounting.
At the same time, as previously planned, the use of IBAN from November 1, 2019 will be mandatory for clients of all Ukrainian banks in the implementation of money transfers both in national and foreign currencies, including cross-border transfers. That is, all translations from 1 November 2019 to be carried out only with the use of IBAN.
In the period from 5 August to 31 October 2019 Bank customers in the details of the settlement documents can specify how a valid account number and Bank code, and account number in the IBAN standard.
The introduction of IBAN will help to harmonise Ukrainian payment space with the European, and also will help further the planned modernization of the system of electronic payments of the National Bank. In General, the use of the IBAN standard due to the reduction of the requisites is to make a more convenient layout of the settlement documents.