On 28 April 2026, adopted Resolution No. 41 of the Board of the National Bank of Ukraine came into force, amending the Regulations on the Procedure for Payment Service Providers to Execute Payment Instructions in Foreign Currency and Precious Metals.
In particular, the document introduces the transition to the ISO 20022 standard, which changes the technical parameters for processing payments. It also increases the requirements for informing customers and amends the mechanism for the compulsory collection of funds from foreign currency accounts.
Key changes include:
- replacing the standard commission allocation codes (OUR, BEN, SHA) with new ones – DEBT, CRED and SHAR. In addition, the use of a two-letter recipient country code (ISO 3166-1 alpha-2) instead of three-letter codes has been enshrined;
- an obligation for payment service providers to notify the recipient of the amount and the payer’s name after each crediting of funds. The method of notification shall be determined by the contract;
- the ability of supervisory authorities to recover debts in hryvnia directly from the debtor’s foreign currency accounts. In this case, the bank is obliged to sell the currency to settle the debt within a short period – no later than the next business day.
It is also established that in the event of a technical change to a client’s account number, any previously imposed attachment shall not be terminated, and the funds shall continue to be recorded and shall be subject to recovery under the new account number.
We will closely monitor further developments in this area and report on them in the future Legal News.
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