Full switch to IBAN could be delayed for two months – NBU
The National Bank of Ukraine (NBU) has said that the full switch to the international bank account number (IBAN) could be postponed for two months – until January 1, 2020, Deputy NBU Governor Serhiy Kholod has said.
"The final meeting will be held before October 1. If there are blocking factors for migration from November 1 to the full use of IBAN among the entire banking system, including the treasury, banks will be notified," he said at a round table organized by the Financial Club on Tuesday.
"Now the decision has not been made, so the previous resolution is in force, which requires everyone to switch to using IBAN only from November 1. However, there is a likelihood of postponing the migration for two months," Kholod said.
As reported, in Ukraine, on August 5, the introduction of IBAN began. New accounts according to the IBAN standard will consist of 29 alphanumeric characters, set out in the following sequence: Ukraine code (UA), control digit (two digits), bank code (six digits), account number.