SWIFT Transfers

Within 3 working days from the date of receipt of the application from a customer.

Resolution of the National Bank of Ukraine No. 5 dated January 2, 2019 "On approval of the Regulation on protection measures and determining the procedure for carrying out certain transactions in foreign currency".

Originals or copies of documents* confirming the purpose of the transfer from Ukraine (agreement, contract, invoice or other documents used in international practice) must include the following information:

• name/surname, first name, patronymic (if available) of the recipient of the transfer;
• country of location/place of residence of the transfer recipient;
• name and location of the bank and details of the account to which the transfer is made;
• name of the currency, the amount of the transfer to be paid;
• purpose of the transfer.

^* Not submitted in the case of obtaining an electronic license for placing funds in an individual’s account outside of Ukraine.

An investment abroad is a currency transaction that involves the investment of currency assets by investment entities in investment objects abroad with the aim of making a profit or achieving a social effect. Investments may be made in the form of creating legal entities abroad, acquiring corporate rights and securities of foreign issuers, property rights to real estate located outside of Ukraine, and in other forms not prohibited by the laws of Ukraine.

The object of investment is any property, including fixed assets, intangible assets, corporate rights, securities and their derivatives.
A foreign exchange transaction involving the purchase of corporate rights, securities, derivatives and other financial instruments is recognized as a financial investment.
Financial investments are divided into the following types:
• direct investment – ​​a foreign exchange transaction that involves the investment to the authorized capital of a legal entity in exchange for corporate rights issued by such legal entity;
• portfolio investment – ​​a currency transaction that involves the acquisition of securities, their derivatives and financial assets using funds on the stock market.

Yes.

The official website of the National Agency for the Prevention of Corruption nazk.gov.ua contains the Unified State Register of Declarations of Persons Authorized to Perform Functions of the State or Local Self-Government (public.nazk.gov.ua). A private individual's declaration is opened based on the search results. Materials are submitted in the form of a printout certified by the signature of a private individual (applicant).

No. If a private individual would likes to open a foreign account and use it abroad, then such transactions do not need to be registered under the e-limit. The e-limit will be needed only to make a transfer from Ukraine to this account.

For example, if a private individual opened an account during his/her stay abroad and credited foreign currency to it, then upon returning to Ukraine there is no need to obtain consent to credit these funds abroad. Such a need will have place if this person wants to transfer additional funds from Ukraine to this account.

No. Crediting of cash in foreign currency by private individuals to their own foreign accounts is not subject to registration under the e-limit. This applies both to cash received abroad and to cash taken out of Ukraine.

In this case, it is necessary to take into account the current procedure for transporting cash currency across the customs border of Ukraine: a private individual has the right to export cash outside of Ukraine in an amount not exceeding the equivalent of 10,000 euros without a written declaration to the customs authority. If the amount exceeds the equivalent of 10,000 euros, a written declaration of the full amount of cash is required, as well as documents confirming the withdrawal of funds from accounts in banks (financial institutions), and receipts for the execution of a currency exchange transaction, if any, only for the amount exceeding the equivalent of 10,000 euros.

No. The National Bank limits only the transactions regarding transfer of funds from Ukraine to the foreign account of a private individual within the framework of the e-limit. Further use of funds from such accounts is not limited.

No. Private individuals do not need to register transactions under the e-limit for crediting foreign currency to foreign accounts with a source outside of Ukraine. For example, you can credit funds received outside of Ukraine (salaries, scholarships, pensions, alimony, dividends from the sale of property) to foreign accounts.

No. A private individual does not need to submit any declarations or reports on such operations to the NBU. Only business entities (private entrepreneurs) must declare foreign property to the National Bank. At the same time, it is necessary to take into account the requirements of tax legislation, which determines the grounds for submitting declarations of income received by a private individual, including abroad, to the State Fiscal Service.

All necessary documents for registering the amount of the transfer under the e-limit can be submitted by the applicant to the bank in both paper and electronic form (at the individual's discretion). In order to register the amount of the transfer under the e-limit, it is necessary to submit documents confirming that this private individual has income in an amount sufficient for the transfer of funds on the basis of the e-limit, as well as originals or copies of documents confirming the purpose of the transfer from Ukraine (except in the case of transferring funds to his/her own account).

Such documents may include declarations of property status and income with a note from the Ukrainian regulatory authority on their receipt (it is permitted to take into account the actual exchange rate of the hryvnia to foreign currencies that existed in the relevant reporting tax period). E-declarations from the official website of NAPC can also be provided to confirm information about the applicant's income. If a private individual does not submit an annual tax return, it is allowed to submit a certificate of income and taxes paid. The issuance of such a certificate is not burdened with a complex procedure and is promptly carried out by the State Fiscal Service authorities. Documents confirming income can be submitted for any number of previous reporting tax periods.

Yes, it is allowed.

Yes. The procedure for transfers under the e-limit does not limit the rights of a private individual in choosing how to make investments abroad. To do this, a private individual can transfer funds directly to the account of the seller of a foreign investment object or use the services of a professional intermediary - a foreign broker, which is a common global practice. In the latter case, funds under the e-limit will be transferred to the bank account of a foreign broker abroad. Conducting transactions based on an e-limit does not exclude the possibility of engaging a Ukrainian securities trader as an intermediary (sub-broker) in the relationship between a private individual and a foreign broker. Such a Ukrainian sub-broker must have a general license to conduct relevant foreign currency transactions. Transfer of funds based on an electronic limit for making investments abroad with the participation of Ukrainian sub-brokers must also be made to the bank account of a foreign broker.

Yes. When conducting additional analysis, the Bank is allowed to request supporting documents. The procedure for analysis and verification of documents is regulated by Resolution of the NBU No. 8 dated January 2, 2019 "Regulation on the procedure for analysis and verification of documents (information) on currency transactions by authorized institutions."

For a transfer to the account of a legal entity, the following can be used as supporting documents:

• agreements (contracts);
• invoices;
• letters of settlement or letters of notification from legal entities – non-residents, authorized bodies of foreign states;
• letters from lawyers or notaries of foreign countries;
• claims, invitations;
• other documents used in international practice.

Supporting documents must include information on:

• full name and location of the recipient;
• name of the bank and details of the account to which the transfer is made;
• name of the currency and the amount to be paid;
• payment purpose.

Documents confirming family ties:

• marriage certificate;
• birth certificate;
• divorce certificate;
• paternity certificate;
• surname and first name change certificate;
• adoption/guardianship documents.

The following documents are required depending on the relationship:

• husband, wife - the sender's marriage certificate;
• parents - birth certificate of the sender;
• children - birth certificate of the recipient;
• grandmother, grandfather - birth certificate of the sender, birth certificate of the sender's father;
• great-grandmother, great-grandfather - the sender's birth certificate, the sender's father's birth certificate, the birth certificate of the person who is the recipient's child;
• grandchildren - birth certificate of the sender's children, birth certificate of the recipient;
• great-grandchildren - birth certificate of the sender's children, birth certificate of the sender's grandchildren, recipient's birth certificate;
• brother, sister - sender's birth certificate, recipient's birth certificate;
• cousins ​​- sender's birth certificate, sender's father's birth certificate, recipient's father's birth certificate, recipient's birth certificate;
• aunt, uncle - sender's birth certificate, sender's father's birth certificate, recipient's birth certificate;
• niece, nephew - sender's birth certificate, recipient's parents' birth certificate, recipient's birth certificate;
• stepfather, stepmother - child's birth certificate and marriage certificate concerning marriage with father/mother;
• stepson, stepdaughter – birth certificate and marriage certificate concerning marriage with father/mother;
• adopter, adopted - court decision on adoption of a child;
• a guardian or custodian, a person under guardianship - documents on guardianship (decision of the guardianship authority).

If the surname and first name have been changed, it is necessary to additionally provide a surname and first name change certificate, marriage certificate, paternity certificate, etc. (according to the reasons for the change).

• Declaration of property status and income with a confirmation of the supervisory authority of Ukraine on its receipt.
• Certificate on the amount of paid income and taxes.
• Other documents that allow transactions to be carried out for the relevant amount and confirm the sources of origin of the individual’s own funds and assets (for example: wages and/or other payments and remuneration paid (provided) in connection with employment relationships; income received from business/independent professional activities.

You can order the necessary certificate and get it in PDF format in the taxpayer's electronic account using the link.

List of countries for additional consideration

Yes, a SWIFT transfer with a delayed crediting date can be sent by visiting a PrivatBank branch.

No, SWIFT transfers with a delayed crediting date can only be sent from a foreign currency account in the currency of the transfer.

Please pay attention! The commission for the transfer is paid in cash through the cash desk of the branch.

Crediting date is the date specified by the payer in the payment instruction, starting from which the funds become the property of the recipient.

To avoid waiting for the crediting date, you can create a SWIFT transfer on the day you want the funds to be sent. This gives you a number of advantages:

• there is no need to go to the branch again and fill out paper payment instructions - you can do it remotely in your Privat24;
• you can send a transfer from a hryvnia card with automatic currency purchase (in the case of sending a transfer with a delayed crediting date, the transfer can only be sent from a foreign currency account);
• You should not wait for the crediting date to arrive, since transfer creation is available 24/7 via Privat24 Internet banking.

Yes, you can cancel a SWIFT transfer with a delayed crediting date before its arrival by visiting a PrivatBank branch or calling +38 (073) 900 00 04 (from 9:00 a.m. to 9:00 p.m.) - a dedicated telephone line.

At the stage of confirmation of a SWIFT transfer, in the "Services - Transfers - SWIFT" menu, it is automatically checked whether the customer has a current account in the currency of the transfer to credit the purchased currency.

If it is available, it is suggested to sign an application for the purchase of foreign currency using the QES or OTP password.

What should be indicated in the details?

Official name of the educational institution - Beneficiary name.
Legal address of the educational institution - Beneficiary official address.
Name of the bank - Beneficiary bank name.
Bank address – Beneficiary bank address.
Account number - Account number or IBAN number (International bank account number).
SWIFT code of the receiving bank.
Payment purpose (you should provide the student’s number, account number, student's full name, date of birth, etc., depending on information the educational institution requires to identify the payment).

What should you pay attention to?

Parents can pay for the education of their minor or adult children, provided they have a birth certificate. You have to provide this document when making payment.
Some invoices provided by the school may be directly addressed to one of the parents. In such cases, confirmation of family ties is not required.
The payment can be made by a third party, but on the condition that the invoice is issued in their name.
Invoices issued by educational institution are often not certified with a stamp. This is a normal practice for foreign institutions, as they only need a copy of the invoice for payment.
There is no need to translate the invoice into Ukrainian and notarize it (we accept invoices in the original language).

Each educational institution issues its own form for payment. Basic information that can be specified:

name, surname and address of residence of the student (in Latin letters);
invoice number and date of issue;
name and duration of the training program;
amount and currency required for the payment;
the official logo, name and address of the educational institution;
details for payment.