The IBAN system is to help the National Bank to upgrade its electronic payment system Photo from UNIAN Ukrainian banks will open new accounts to their customers, using international bank account numbers (IBAN) from August 5. Banks will change existing numbers of accounts, preserving the existing number of analytical accounting, the National Bank of Ukraine said on its website. Read alsoUkraine seeing decrease of cash in circulation in June From November 1, the use of IBANs will be mandatory for customers of all banks in Ukraine to carry out money transfers. At the same time, all payment cards will remain a payment instrument for clients to initiate a transfer of funds from a bank account. An IBAN consists of 29 alphanumeric characters, including Ukraine&#39;s country code, two check digits, a bank code and an account number. UNIAN memo. The introduction of the IBAN system in Ukraine is designed to harmonize the country&#39;s payment environment with the European one, and will also contribute to the further planned modernization of the National Bank&#39;s electronic payment system. In addition, the National Bank plans to introduce payments using QR codes with information about an IBAN, which will facilitate the payment of bills and exchange of payment information.