Introducing IBAN

 All news
07.08.2019

Estimate clients!

We would like to inform you that in accordance with the resolution of the Board of the National Bank of Ukraine dated December 28, 2018 № 162 “On Introduction of the International Bank Account Number (IBAN) in Ukraine”, JOINT STOCK COMPANY JOINT STOCK COMMERCIAL BANK “ARCADA” introduces the international bank numbers of IBAN.

Starting August 5, 2019, all new national and foreign currency customer accounts of ARCADA JSC will be opened by standard, and all open customer accounts will be transferred to IBAN standard by August 5, 2019.

From August 5, 2019 to October 31, 2019, there is a transition period during which both the old format (bank code and current account number) and the new format (IBAN standard) can be executed. During the transition period for existing customer accounts IBAN number will be generated by  JSC Bank "ARCADA" independently and during such period it will act in parallel with the old requisites.

Customers need to know their IBAN account number before November 01 to continue making transfers to their account. For this you need to contact the Bank.

From November 1, 2019, the use of IBAN will become obligatory for clients of all banks of Ukraine when making transfers in both national and foreign currencies. That is, all payments from November 1, 2019 will be made solely using IBAN.

An IBAN account, in addition to the account number, also includes a country code and a bank code. For Ukraine, IBAN consists of 29 characters (letters and numbers): country code, check digit, bank code and account number.

Thus, the IBAN account is as follows:

UA NN 322335 XXXXXXXXXXXXXXXXXXX ,

where:

UA – country code for Ukraine (2 letters),

NN – control code that is generated by the bank (2 numbers),

322335 – code for JSC Bank «АRCADA» (6 numbers),

XXXXXXXXXXXXXXXXXXX – number of the clients` account (19 numbers). If the account number is less than 19 digits, the corresponding number of zeros is added to it, which is placed before the account number.

To use IBAN details, it is necessary to fill in the required IBAN account number in the bank transfer documents in the Payer / Payee / Payee Account field. The Bank Code details indicate "0". As of November 1, 2019, the requisite "Bank Code" will not be available in the payment documents.

We would like to draw your attention to the fact that from November 1, 2019 in all settlement documents, which will be submitted (sent) by you to JSC Bank "ARCADA", it will be necessary to specify the account number exclusively in IBAN format.

Please note that changing your existing IBAN account number does not change the terms of the Bank Account Agreement. Your contracts will remain in effect until they expire, as changes have occurred due to changes in current Ukrainian legislation.

The Bank will independently provide information on the change of the current account number to the bodies of the Civil Service of Ukraine (for accounts requiring registration with the bodies of the State Fiscal Service).

If you are receiving funds from other people, you will need to inform the persons who will make transfers for your own benefit about the new IBAN account number.

You can find out about the IBAN details for your account opened at JSC Bank "ARCADA" using our IBAN calculator.