Here we take a look at the offers from three popular banks in Ukraine: Ukrsibbank, PrivatBank and Monobank.



The pros and cons:

     + Only a passport or a residence permit is needed to open a personal current account (no tax identification number or address verification are required);

     + There is a premium branch with English and French speaking staff exclusively for servicing foreign nationals in Kyiv at 20, Antonovycha St.;

     + A quite convenient online banking app in English;

     –  The network of branches and ATMs outside Kyiv is vastly less developed compared to PrivatBank;

     –  To top up the account with cash the holder will have to visit the bank and to prove source of funds.


PRIVATBANK (state-owned)

To open an account with PrivatBank a foreign national who has a residence permit in Ukraine does not need a Ukrainian tax identification number. The required documents are: a residence permit, a passport and a certificate of address registration.

Foreign nationals who have no residence permit in Ukraine will have to provide a passport and a Ukrainian tax identification number.

The pros and cons:

     + A wide net of branches and ATMs all over the country;

     + The application for online banking (Privat24) has an English version;

       No English speaking staff;

       Ukrainian individuals may not transfer funds to such an account;

       An account holder may top up the account with cash only in person at the cash desk of any bank branch upon presentation of a passport and a proof of sources of funds.  Depositing funds through terminals is not allowed for such accounts.


MONOBANK (a retail product from Universal Bank JSC)

As of today, the most progressive mobile banking app with the most features is Monobank. But at the moment Monobank opens accounts only for those foreign nationals who obtain a permanent residence permit and a Ukrainian tax identification number.

We assist our clients in opening any types of bank accounts, including investment accounts. For legal assistance feel free to contact the lawyers of our Migration Practice.