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.
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’s country code, two check digits, a bank code and an account number. (UNIAN/Business World Magazine)
