Alfa-Bank Ukraine is poised to introduce IBAN

Information for customers 31 may 2019 - 17:19

Dear clients,

As required by the NBU (Resolution No.162 of December 28, 2018, and No.41 of February 22, 2019), JSC Alfa-Bank introduces the International Bank Account Number (IBAN).

From August 5, 2019, IBAN numbers will be assigned to all clients’ accounts open with JSC Alfa-Bank in national and foreign currencies (current, deposit (savings), card, credit, conditional deposition (escrow), etc.). This will apply both to new accounts as well as to the accounts opened until August 5, 2019.

According to the National Bank of Ukraine, the IBAN standard that simplifies the information intake, such as bank details, will make it easier to execute payment documents; it will harmonize the Ukrainian payment area with the European one, facilitate further upgrading of the electronic payment system planned by the NBU.

The IBAN for Ukraine consists of 29 alphanumeric characters:

UA nn 300346 сссссccccccccccccсc, where

UA –country code for Ukraine

nn (2 digits) – check digits generated by the bank;

300346 (6 digits) –sort code of JSC Alfa-Bank that the client opens an account with;

ссссссссссссссссссс (19 digits) – client’s account number.

The IBAN first two characters help recognize the participating country supporting IBAN payments (UA-Ukraine), while the check digits are used to check the client's account number for correctness.

Until August 2019, Alfa-Bank Ukraine will inform clients about IBANs assigned to the accounts that are opened.

For example, UAnn300346000002620сссссссссс number was assigned to 2620сссссссссс account, where last 19 characters are the account number: 000002620сссссссссс.

The International Bank Account Number (IBAN) can be assigned WITHOUT THE NECESSITY of:

  • replacing old accounts with new ones;
  • signing new agreements between the bank and the client,
  • reissuing a power of attorney for account management.

The accounts of business entities open until August 5, 2019, with numbers assigned according to the IBAN standard will be subject to registration by JSC Alfa-Bank with the State Fiscal Service of Ukraine no later than November 10, 2019.

Starting November 1, 2019, all transfers will be made only using IBANs.

During the transition period from August 5 to October 31, 2019, the bank will accept payment documents for money transfers, either they contain an IBAN or they are in old format (bank sort code + account number).

Alfa-Bank Ukraine will supply further information to the clients about progress on IBAN.

If you have any questions, please contact the nearest Alfa-Bank Ukraine’s branch or contact centre at the following numbers:

  • 044 494 01 01 (for private banking clients) or
  • 044 490 46 84 (for business entities).

Please familiarize yourself with the Notices to Clients made available by the NBU.