The National Bank of Ukraine has updated the procedure for foreign currency payments, introducing new standards for banks and clients. The key changes include new commission codes, mandatory notification of recipients of funds and enhanced control mechanisms for financial transactions.
New rules for foreign currency payments: what the NBU has changed
Changes approved NBU Resolution No. 41 and came into force at the end of April 2026. They apply to all payment service providers and affect the procedure for making international transfers.
The regulator clarified the rules for executing payment instructions in foreign currency and adapted the system to international payment processing standards.
New commission codes: transition to international standards
One of the key innovations is the change in commission distribution codes.
Previously used:
- OUR
- BEN
- SHA
Now they have been replaced by:
- DEBT - payer's expenses
- CRED - recipient's expenses
- SHAR - cost allocation
These changes are in line with the ISO 20022 standard and allow for clearer identification of who pays the commission on FX transactions.
The NBU has also regulated the use of recipient country codes in line with international standards, which eliminates previous technical inconsistencies.
Banks are obliged to inform customers
Another important change is mandatory notification of recipients of funds.
Now banks have to:
- report on each transfer of funds
- indicate the amount and payer
- use convenient channels (SMS, push, statements)
This requirement is mandatory for all financial institutions and is aimed at increasing transparency of operations.
New opportunities for controlling and collecting funds
A separate set of amendments relates to the enforcement of funds.
In particular:
- Debts in hryvnia are allowed to be written off from foreign currency accounts
- banks are obliged to sell foreign currency to cover debt
- lead times reduced to one operational day
This significantly strengthens financial discipline and enhances the state's ability to collect debts.
How this will affect businesses and citizens
The updated rules will have several practical implications:
For business:
- more transparent commission structure
- Fewer errors in international payments
- Adaptation to new standards
For citizens:
- prompt notifications of receipt of funds
- better control over accounts
- Reducing the risk of misunderstandings
Overall, the changes are aimed at integrating the Ukrainian financial system into global payment standards.
Why it matters
Updating the rules for foreign currency payments is not just a technical change, but a step towards modernising Ukraine's financial system.
New requirements:
- increase the transparency of financial transactions
- bring the banking system closer to international standards
- strengthen control over cash flows
In the long run, this could facilitate international payments and increase confidence in the Ukrainian banking system.
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