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Why CONCORDBANK

  • Foreign currency purchase / sell at the Ukrainian Interbank Foreign Exchange Market for legal entities - only 0.1% of the amount.
  • Personal foreign currency transactions assistant
  • Possibility of obtaining practical legal advice during documents preparation.
  • Ability to remotely submit documents to the bank.
  • Examination of the future agreement and selection of the optimal solution.
  • The best interaction mode with bank divisions and external structures in the process of servicing and documents preparation.
  • Preparation of reports on attracting loans from non-residents and monitoring the implementation of settlement deadlines for agreements registered with the NBU.
  • Registration and timely receipt of all documents with bank marks for reporting to the territorial bodies of the State Fiscal Service of Ukraine and customs clearance.

Questions and answers

What is required to purchase / sell foreign currency at the Ukrainian Interbank Foreign Exchange Market through CONCORDBANK?

  • Open a foreign currency account in CONCORDBANK.
  • Provide the bank with a FEA contract.
  • Find out the exchange rate in icON business.
  • Submit an application for the purchase / sale of foreign currency in icON business and the bank will perform a foreign exchange transaction under the instruction.

Are business entities permitted to purchase foreign currency for transactions within electronic limits?

Yes, except when such a purchase is expressly prohibited by the regulatory acts of the National Bank. (https://bank.gov.ua/)

Is it allowed to buy foreign currency in order for a resident to provide a loan / reimbursable financial assistance to a non-resident?

Yes. But in this case, the process participants, the bank and the resident, must act within the framework of the law, namely, be guided by the norms of section IX (regarding compliance with the established limits for the conduct of relevant transactions) and section Х (regarding conditions, procedure and features of transactions on current accounts of bank clients) Regulation No. 5. (https://bank.gov.ua/)

Can legal entities and individuals - entrepreneurs buy foreign currency to make advance payments under contracts for the import of goods?

Yes. The National Bank does not prohibit purchasing foreign currency for advance payments (prepayment) for the import of goods under a foreign economic
agreement (contract). (https://bank.gov.ua/)

Are there any restrictions on the amount of purchase of foreign currency?

No such restrictions currently exist.

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