SWIFT

Information on sending a SWIFT transfer

* What are E-limits for transactions by individuals?

1. E-limit is the NBU's automated control of currency transaction limits. NBU provides centralized collection of information on currency transactions of individuals, which should be carried out within the limits. An individual is allowed to carry out currency transactions in foreign currency during a calendar year in the total amount up to 200 000 EUR inclusive (the equivalent of this amount in another foreign currency/hryvnia at the official exchange rate of hryvnia to foreign currencies).

2. What documents do I need to make transactions within the E-limit?

Individuals must submit the following documents in order to conduct a currency transaction within the E-limit:

• application for conducting a currency transaction and entering information into AIS "E-limits";

• documents (statements) showing that the individual has income in the amount sufficient to make the transfer;

• documents confirming the purpose of the transfer outside of Ukraine (contract, invoice and other documents). Documents confirming the purpose of the transfer are not required in the case of transfers to personal accounts;

• documents confirming the non-resident-seller's ownership of the investment object (additional documents to be submitted in case of investment);

• information/data on ultimate beneficial owners/participants of the transaction (additional documents to be submitted in case of investment).

3. For what purposes is it possible to make transfers within the E-limit?

Individuals may carry out transactions in the amount of up to EUR 200,000 per calendar year for the following purposes:

• making investments abroad (in the form of creation of legal entities abroad, acquisition of corporate rights and securities of foreign issuers, ownership rights to real estate located outside of Ukraine);
• granting a loan to a non-resident (financial assistance that is returned);
• placement of funds on a personal account outside of Ukraine;
• fulfillment of obligations to a non-resident under life insurance contracts.

How to make a SWIFT transfer

STEP 1

Get the beneficiary's account details for a SWIFT transfer in the appropriate currency.

* Requirements for requisites for SWIFT transfer:

The requisites for sending a SWIFT transfer must contain the following information:

For transfers in USD, EUR:

• recipient's account details: recipient's name, bank name, bank address, account in IBAN format, SWIFT code;

• recipient's address;

• purpose of payment;

• details of the correspondent bank (there may be an additional request from the bank).

STEP 2

Open an account in Concord Bank to send a transfer in the desired currency (USD, EUR), if the account is not already open.

Account in USD, EUR can also be opened in the NEO application

(Read more here)

STEP 3

To reduce the time spent at the branch, apply for sending SWIFT on this page of the site and wait for a call about choosing a convenient time to visit the branch to complete the transfer.

Or immediately contact a convenient branch with the details of the transfer and supporting documents (if necessary, learn more about the limits *).

* SWIFT transfer limits

* What documents can confirm the purpose of the SWIFT transfer and what they should contain?

1. List:

• agreements (contracts), invoices;
• letters of settlement or letters of communication from legal entities - non-residents, authorized bodies of foreign states, letters from lawyers or notaries of foreign states, statements of claim;
• invitation (calls), documents on family relations or their duly certified copies;
• other supporting documents that are used in international practice.

2. Supporting documents (other than family relationship documents) must contain the following details:

• full name and location of the beneficiary;
• name of the bank and details of the account to which funds are transferred;
• currency and amount to be paid;
• purpose of payment.

3. If the supporting documents are in a foreign language, translation into the Ukrainian language, certified by a notary, shall be provided to the bank.

STEP 4

At the branch, check the details of the payment order in the currency, sign it and give it to the manager for further processing.

Fees for sending a SWIFT transfer

Currency of the account: USD, EUR.

Fee for sending: 0,4%, min 30 USD/EUR, max 500 USD/EUR.

Information on receiving a SWIFT transfer

 Possible purposes of receiving a SWIFT transfer

• Salaries, scholarships, pensions, alimony, government aid, financial aid, assistance from relatives, charitable and humanitarian aid, payments and compensations, including payment of compensation for damage caused to employees as a result of injury, occupational disease or other health damage related to the performance of their work duties, victims of political repression, victims of Nazi persecution, their families and heirs.
• Compensation for insurance events.
• Payment of bonuses, prizes.
• Payments of inherited funds, funds under gift contracts.
• Payment of royalties, bonuses, prizes and other payments for the use of intellectual property rights of individuals.
• Other receipts within the framework of the legislation.

* The bank does not credit funds sent from Iran, Democratic People's Republic of Korea, Russia and Belarus.

 How to get a SWIFT transfer

1. Open an account with CONCORD Bank in the desired currency (USD or EUR).
2. Get the account details from the manager at the branch, using the NEOBANK application or using the NEOBANK web version.
3. Provide account details to the sender of the funds.
4. The bank will automatically credit the funds to your account after receiving information about the transfer.

 Fees for SWIFT transfers

Withdrawal of funds from currency accounts - no commission!