The NBU noted that such an innovation will avoid conflicts between the employer and the employee regarding the employee’s right to independently choose a bank to receive wages.

From today, January 1, Ukrainians can independently choose a bank to receive their salaries. This is evidenced by the decree of the National Bank of Ukraine .

The document also introduces other changes to the Instruction on cashless payments in Ukraine in national currency related to changes in the legislation of Ukraine, in particular the Code of Ukraine on bankruptcy procedures, the Law of Ukraine “On Preventing and Countering the Legalization (Laundering) of Criminally Obtained Incomes, Terrorist Financing and financing the proliferation of weapons of mass destruction. “

“After the introduction of an international bank account number in Ukraine, the employer was able to generate a payroll statement for employees with an indication of the employee’s account number according to the IBAN standard, including the account that the employee independently opened in the bank at his own choice,” the NBU noted.

As noted in the National Bank, such an innovation will allow avoiding conflicts between the employer and the employee regarding the employee’s right to independently choose a bank to receive wages. 

(C)112UA 2020