Monobank Doubles Referral Rewards, Offering 100 Hryvnias Per New Customer.

Updates to the 'Invite a Friend' Program

According to Novyny.live: Ukrainian digital bank monobank has enhanced its customer referral incentives. Participants in its 'Invite a Friend' scheme will now receive 100 hryvnias for each successful referral, doubling the previous reward of 50 hryvnias. This move aims to boost participation in the program, which has been active since 2017. For context, monobank is a leading fintech player in Ukraine known for its mobile-first approach.

The updated program simplifies earning bonuses by inviting acquaintances.

As Oleg Gorokhovsky noted, 'We are now doubling this reward. For inviting a friend to mono, both you and they will receive 100 hryvnias.'

Elimination of Fees for IBAN Transfers

In a separate but related customer-friendly shift, monobank removed fees for IBAN payments effective February 23, 2026. Previously, these transfers were free for amounts up to 10,000 hryvnias, with a 0.5% commission applied to sums exceeding that threshold. This decision is notable as the bank had been generating over 200 million hryvnias annually from these IBAN transfer commissions.

Collectively, the enhanced referral rewards and the elimination of IBAN fees underscore monobank's focus on improving its service and attracting new clients. These changes could substantially strengthen the bank's position in Ukraine's competitive financial market by incentivizing user growth and fostering loyalty through greater transparency and reduced costs for customers.