Ukraine: Cash services and MT202 new requirements
Clearstream Banking1 informs clients about another step made by local regulator National Bank of Ukraine (NBU).
In line with harmonisation of the local regulatory environment and payment infrastructure with European standards, NBU has announced new requirements to the local UAH payment instructions.
Effective
1 April 2023
the following abbreviations will be required in field :58D of Swift MT202 for:
- Payment in UAH (Hryvnia) to local banks/residents of Ukraine;
- Payment in UAH (Hryvnia) to non-resident investors.
Payment in UAH (Hryvnia) to local banks/residents of Ukraine
The “USRC” abbreviation followed by an eight digit code is required instead of the “TAX CODE/EDRPOU” abbreviation followed by an eight digit code.
Current Field MT202 | Starting from 1 April 2023 |
:58D:/UAXXXXXXXXXXXXXXXXXXXXXXXXXX | :58D:/UAXXXXXXXXXXXXXXXXXXXXXXXXXX |
JOINT-STOCK COMPANY XXX BANK | JOINT-STOCK COMPANY XXX BANK |
TAX CODE/ EDRPOU 216XXXXX | USRC 216XXXXX |
USRC is a Unified State Register Code (Unified State Register of Enterprises and Organizations of Ukraine).
Payment in UAH (Hryvnia) to non-resident investors
The “NA” abbreviation followed by nine zeros is required instead of the “TAX CODE/EDRPOU” abbreviation followed by nine zeros.
Current Field MT202 | Starting from 1 April 2023 |
:58D:/UAXXXXXXXXXXXXXXXXXXXXXXXXXX | :58D:/UAXXXXXXXXXXXXXXXXXXXXXXXXXX |
JOINT-STOCK COMPANY XXX BANK | JOINT-STOCK COMPANY XXX BANK |
TAX CODE/ EDRPOU 000000000 | NA 000000000 |
Impact on clients
Clients should consider Swift MT202 UAH payment message changes when initiating payment orders.
If the Swift MT202 is not in line with the regulation, then payment will be rejected by the market.
Further information
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.