As of October 1, new rules for money transfers have come into effect in Ukraine. Banks are now required to include the name of the individual or company receiving the funds, along with their account number, in payment documents.
Anna Khudar, head of “EQUITAS-CONSULT” LLC, explained: “These changes are aimed at combating financial abuse and shadow schemes. For regular users, the changes are almost unnoticeable since banks automatically add the necessary information.”
According to the expert, businesses will need to pay more attention to the accuracy of their partners’ banking details to avoid delays. “This is part of harmonization with EU legislation and an important step toward increasing the transparency of financial flows,” she added.
