IBAN (International Bank Account Number) is a standard international form of invoicing that helps banks make international transfers. It is a set of letters and numbers in which the country code, bank code and bank account data are encrypted, which are required for international transfers. IBAN operates throughout Europe, several regions of Central Asia, North Africa and the Caribbean.
Previously, accounts in Ukraine were understandable only to Ukrainian banks, and in order to transfer funds, in addition to the account number, it was also necessary to indicate the bank's MFO where the account was opened and the recipient's EDRPOU. Since August 5, 2019, all bank accounts in Ukraine have switched to the IBAN standard.
Our IBAN account is present in all accounts generated by our system, therefore, it can be used when paying for services through Ukrainian banks instead of the usual details (account numbers, MFO and EDRPOU).