From 05 August, 2019 JSC «PIRAEUS BANK ICB» will open for Customers new accounts only in accordance with the requirements of the IBAN standard.

At the same time the transition period will be for customers who opened accounts until 05.08.2019, during which payments can be made using the format: MFO + account number or IBAN.

During the transition period, if the Customer to whom the accounts were opened before August 5, 2019 did not apply to the Bank for the formation of the current account in IBAN format, the Bank will gradually transfer all accounts to IBAN format by October 31, 2019 and inform the State Fiscal Service about changes in the details of the accounts of individual entrepreneurs, legal entities and other taxpayers whose accounts are subject to registration with the Controlling Service.

Also, updated information regarding social accounts will be transferred to the Pension Fund of Ukraine and the relevant population social protection services.

Starting from November 1, 2019 the use of the IBAN will be obligatory for customers of all Ukrainian banks for settlements both in national and foreign currencies, including cross-border transfers. As a result all transfers from November 1, 2019 will only be operated using the IBAN.

Detailshere.