Open Banking in Ukraine from 2025: What Will Change for Payers.

According to inkorr.com: The National Bank of Ukraine is starting a new stage of implementing Open Banking from October 1, 2025. This initiative aims to simplify the payment process for all participants in financial operations, including banks and their clients, reports Finance.ua.

Main Changes

• Full Legal Name of the Recipient. Now every payment will be accompanied by the full legal name of the beneficiary company, ensuring that clients receive accurate information without abbreviations.

• Expanded Payer Details. The new rules require specifying the surname, first name, middle name or name of the recipient, as well as their account in all transactions, including transfers between individuals. This will allow clients to better understand the source of payments.

• Transparency of Online Payments. Companies engaged in acquiring are obliged to provide the full name during payment confirmation along with information about the cardholder. This will facilitate clients' understanding of transactions.

Impact on Clients

According to the representatives of the National Bank, the new rules will help avoid misunderstandings caused by 'unclear codes' in statements, as well as reduce fraud risks. Now each transaction will contain understandable information about the counterparty.

Anonymous payments will no longer be allowed, so clients should carefully check the details before transferring funds, as in case of an error, the payment may be delayed or returned. Banks are required to ensure the ability to track payments, allowing clients to see the movement of their funds in real-time.

Thus, the implementation of new Open Banking rules in Ukraine aims to make financial operations simpler and more transparent for all participants. These changes will not only help reduce fraud but also improve clients' understanding of their financial affairs.