Ukraine to change card transfer rules: the process will become more transparent

From 1 October 2025, new rules for bank transfers within the Open Banking technology will come into force in Ukraine. They will change the usual format of transactions. Find out what innovations the NBU is introducing and how they will affect customers and businesses

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The National Bank of Ukraine has announced the introduction of key requirements as part of the development of Open Banking technology, which will come into force on 1 October 2025. This was reported by Finance.ua. The new rules are aimed at increasing the transparency and clarity of all financial transactions — both for banks and for customers.

The changes will affect both card transfers between individuals and online payments through acquiring companies.

Full legal name of the recipient

From now on, all card transactions must be accompanied by the full legal name of the company receiving the payment. Customers will no longer see abbreviations or acronyms on their bank statements — the system will display accurate information about the beneficiary. This eliminates confusion and helps to immediately understand who the transfer was sent to.

Extended payer details

Bank statements will become more informative. They will display the full name or name of the recipient, as well as the account number. This rule also applies to P2P transfers: the sender will see the recipient's details, and the recipient will see the sender's name, even if the transfer goes through different banks.

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Transparency of online payments

Acquiring companies will be required to indicate the full name of the recipient before confirming the transaction. This will allow the customer to understand in advance whose account the money will go to. In addition, there are plans to introduce a mechanism whereby the cardholder's details will be transmitted to the system along with the card number, which will reduce the risk of fraudulent transactions.

What will change for customers

The main goal of the innovations is to increase trust in the banking system and create convenience for users. Customers will no longer encounter incomprehensible codes or abbreviations in their statements: now each transaction will be accompanied by complete and understandable information about the counterparty.

Reminder! From October 2025, European banks will start using a new standard for verifying transfers in euros. Customers will face additional steps when making transactions, and businesses will have to restructure their processes. Find out how the new rules work and who they will affect.

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