All IBAN payments from personal funds are now free of charge at monobank
23 February 13:11
monobank has abolished fees for transfers to IBAN, the international standard for bank account numbers.
“All IBAN payments from personal funds in mono are free starting today,” monobank co-founder Oleg Gorokhovsky announced on Telegram, according to "Komersant Ukrainian".
According to Gorokhovsky, IBAN payment fees at monobank have not changed since the neobank opened in 2017.
“Previously, if you transferred up to UAH 10,000 to IBAN, it was free, and for amounts over UAH 10,000, there was a 0.5% commission from your own funds, because such payments were extremely rare at the start of mono. From now on, we are removing this commission,” he wrote.
Gorokhovsky added that monobank earned over UAH 200 million per year from this commission, but the bank’s owners “don’t mind when it comes to creating better conditions on the market.”
Monobank was founded in early 2017 by former PrivatBank top managers Oleg Gorokhovsky, Dmytro Dubilet, and Mykhailo Rogalsky. Monobank operates under the license of Universal Bank, which is part of Serhiy Tigipko’s TAS group and, according to its own data, serves over 10.4 million customers.
As of February 2026, Monobank had issued over 25.4 million cards.
