Ukraine switches to IBAN on Jan 13

Ukraine has switched to the international bank account number (IBAN) system as of January 13.

Now, customers' bank accounts in Ukraine meet IBAN standards.

Read alsoNBU postpones introduction of IBAN in Ukraine until Jan 13

The IBAN contains 29 alphanumeric characters: the country code "UA" (two letters), check digits (two digits), a bank code (six digits), an account number, which is variable (from five to 14 characters until October 31, 2019, and from five to 19 characters as of November 1, 2019).

So, an account number indicates the bank where it was open.

As UNIAN reported earlier, the National Bank of Ukraine (NBU) obliged Ukrainian banks to open new accounts to their customers, using international bank account numbers from August 5.

Initially, the regulator planned to introduce the mandatory use of IBANs for customers of all banks in Ukraine to carry out money transfers from November 1, 2019. However, in early October, the NBU extended the deadline for banks to accept money transfer documents with details under the previous standards "bank code" and "account" until January 12.