Virtual bank monobank has abolished fees on all incoming and outgoing international SWIFT payments for both individual and business clients, project co-founder Oleg Gorokhovsky announced.
"Previously, a SWIFT transfer cost users an average commission of around UAH 1,000," he wrote on his Telegram channel on Wednesday.
According to Gorokhovsky, such payments are currently important for businesses because they allow for cheaper procurement, while for individuals they are used to pay for education, medical treatment, and military equipment.
He added that the bank had been earning more than UAH 11 million annually from these fees.
Bank monobank is a branchless mobile bank founded in January 2017 by former PrivatBank top managers Gorokhovsky, Dmytro Dubilet, and Misha Rogalskiy. The project operates under the banking license of Universal Bank, which is part of the TAS Group (Kyiv).
According to the National Bank of Ukraine, as of April 1, 2026, Universal Bank had issued a total of 29.42 million payment cards, of which 10.17 million were active and used for transactions during the month.
