How do you open a bank account in Ukraine?
- See the data table below for detailed numbers
- Check the FAQ section for common expat questions
- Use our free assessment to get personalised results
Getting your finances set up in Ukraine is easier than you think — if you know which banks welcome expats and what documents to bring.
Banking Overview in Ukraine
| Feature | Details |
|---|---|
| Currency | Ukrainian hryvnia (UAH) ₴ |
| Bank Account for Foreigners | Yes |
| Access Difficulty | Medium |
| Remote Opening | No |
| Wise Available | No |
| N26 Available | No |
Opening a Bank Account in Ukraine
Foreigners can open bank accounts in Ukraine. The process difficulty is rated as medium, which means you should expect some bureaucracy and possibly language barriers.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Residence permit (if applicable)
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Digital Banking Options
Wise (TransferWise)
Wise has limited availability in Ukraine. While you may be able to send money to Ukraine, full local account features may not be available. Check their website for the latest on Ukraine-specific services.
N26
N26 is not currently available in Ukraine. You may need to consider local digital bank alternatives or traditional banks.
International Transfers
When transferring money to or from Ukraine, consider these factors:
- Exchange rate: The currency is UAH. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in Ukraine is approximately €600 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Carry cash for the first week: Card acceptance varies. Have enough local currency to cover taxis, meals, and small purchases until your account is active.
- Set up online banking immediately: Most routine transactions can be handled online or via app, saving you queues and branch visits.
- Get a local phone number first: Most banks require a local mobile number for SMS verification. Set this up before visiting the branch.
- Compare fees before choosing: Monthly account fees, ATM charges, and international transfer costs vary wildly between banks. Ask before you open.
- Keep your home bank account: Maintain an account in your home country for at least the first year, in case you need to transfer funds back.
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Get Your Free VerdictFrequently Asked Questions
Is mobile banking widely available in Ukraine?
Yes, most major banks in Ukraine offer mobile banking apps with features like transfers, bill payments, and balance checks. Local banks are increasingly investing in mobile technology.
What happens to my bank account if I leave Ukraine?
Most banks in Ukraine allow you to keep your account open even after leaving, though some may require an address in Ukraine. It is advisable to switch to a basic or non-resident account to avoid unnecessary fees. Close standing orders and direct debits before leaving.
What are the best banks for expats in Ukraine?
For expats in Ukraine, options depend on your needs. We recommend comparing traditional banks with digital alternatives based on your transaction patterns and whether you need international transfers.
Can I open a bank account in Ukraine as a foreigner?
Yes, foreigners can open bank accounts in Ukraine. The difficulty level is rated as medium. You will typically need your passport, proof of address (registration), and sometimes a residence permit.
How do international money transfers work from Ukraine?
You can transfer money from Ukraine via SWIFT bank transfers (2-5 days, higher fees) or digital services . Compare rates between your bank and specialist transfer services to save on fees.