From October 1, 2025, new rules of payment transfers will be launched in Ukraine. The National Bank of Ukraine (NBU) will oblige banks and financial institutions to disclose full information about payments before their implementation. This decision is aimed at increasing the transparency of financial transactions, reducing fraud and increasing consumer protection.
Thanks to the new requirements, anyone who makes a payment or transfer of funds will be able to see:
the recipient's data - its name or a unique payment ID.
Account Number (IBAN) -for legal entities and entrepreneurs.
EDRPOU code - for companies.
Tax number or passport data - for individuals.
This information will be available to the user even before the payment is confirmed, which will avoid erroneous transactions or fraudulent transactions.
How will this affect financial transactions?
Safer payments - citizens will receive more control over their finances, as they will be able to check the recipients before the transfer.
Less fraud - attackers will be harder to hide their accounts on anonymous transfers.
Clearer reporting - it will be easier for companies to track financial flows and keep accounting.
What else will change?
The new rules will also apply to payment instructions. They will necessarily contain:
- the date and time of the operation;
-a bank or payment service;
-Sum and currency of payment;
-Commission (if any);
-appointment of payment;
-Ecavara Identifier (for card payment).
Why is this important?
The NBU innovation is another step towards financial transparency and consumer protection. Thanks to the ability to check the recipient before the transfer, Ukrainians will be able to avoid fraudulent schemes and random errors in payments.
It should be reminded that since March 31, 2025, the NBU also changes the order of setting the official hryvnia exchange rate to foreign currencies, which is part of large -scale reforms in the country's financial system.
