#21 | Raiffeisen Bank Aval  #22 | Raiffeisen Bank Aval
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New ISO20022 payment standard for national currency transactions - 

from 01.04.2023

 | Raiffeisen Bank Aval

 #2 | Raiffeisen Bank Aval
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What ISO20022 is?

International message exchange standard prepared by ISO TC68 Financial Services Technical Committee implemented by the National Bank of Ukraine  the payment infrastructure of Ukraine. 

The standard applies to IBAN–IBAN payments and does not concern security transactions, banking cards, trading and conversion transactions.

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Payment space

To align Ukrainian payment space with the world one

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Payments banking details

To supplement payments banking details with additional information

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Servicing and payments efficiency

To enhance the level of servicing and payments efficiency

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Payment instruments

To extend payment instruments functionality

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Payments automation

To increase the level of payments automation

“Development of Ukrainian payment infrastructure” project implementation schedule

Показати ще

The new Law On Payment Services  and Standard ISO20022 are approved

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  • The whole banking system will be transferred by the NBU to the new version of Electronic Payments System (EPS) that will operate in 24/7 mode (the banks will not have to support 24/7 operation schedule; the notions of operational day and operational time will continue to apply)
  • Payment order, payment claim and other forms of payment documents are replaced with payment instructions, which, in addition to the sender and the beneficiary, will provide for new non-obligatory payment participants (roles) : actual sender, actual beneficiary, initiator
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  • Approach to payment processing changes, from now on the value date will be specified (clause 2 of Article 47 of the Law)
  • The NBU in 24/7 mode will define the date of the payment processing for the transition period between the calendar dates (before the date of effecting payment was considered the date of sending by the bank-sender)
  • Printed forms of payment documents for both cash and non-cash transactions will be changed in according to the requirements of the NBU
  • There are no plans from the NBU’s side to change requirements to obligatory details of personal accounts and of the customer’s statement (clause 61 of NBU Resolution No. 75)

Changes in import files in Raiffeisen Business Online  

What will change?

Fields for filling in the address will be added to the payment instructions, if the recipient - a legal entity does not have the EDRPOU code, or it consists of nine digits, while the import file formats will change: 

  • in Raiffeisen Business Online ("Client-Bank" system) in the beginning of March 2023. Instructions describing the new structure of the import file are available here.
  • in the new Raiffeisen Business Online from April 1, 2023. Instructions describing the new import file structure are available here. 
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Actions on the side of the Clients 


Actions on the side of the Clients 

 

You need to independently solve the issue of setting up/updating your internal systems, which will allow you to correctly carry out document import operations:

until March 1, 2023, if you use Raiffeisen Business Online ("Client-Bank" system),

 • until April 1, 2023, if you use the new Raiffeisen Business Online.

Pay attention! 


  • If you do not work with counterparties (recipients) who do not have the EDRPOU code, or it consists of nine digits, then you can not change the format of the import file and use the existing one.
  • If the revisions are made on your side, earlier than in the Bank, the import of documents will proceed correctly.
  • Export file formats (extracts) will not change.

Printed forms of payment documents

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The templates of printed forms of payment documents:

  • were changed in the new Raiffeisen Business Online in November 2022,
  • will be changed in Raiffeisen Business Online ("Client-Bank" system) approximately in the beginning of March 2023.

Pay attention:

  • the name of the document "Payment order" will change to "Payment instruction"
  • the names of some fields of payment documents will be changed in accordance with the requirements of NBU Resolution No. 163
  • the very form and location of the fields will not change
  • since April 1, 2023 in the new Raiffeisen Business Online and approximately in the beginning of March 2023 in Raiffeisen Business Online (the "Client-Bank" system) the "Address" block of fields will be added if the Payer/Recipient does not have a EDRPOU code or it consists of nine digits. For such Recipients, the "Address" block of fields becomes mandatory, without this information the payment will not be sent.

The payment instruction form template is located:

  • for the new Raiffeisen Business Online here,
  • for Raiffeisen Business Online ("Client-Bank" system) here.

Voice of Customer on 24/ 7 payments

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Currently the payments effecting schedule in Raif is 19/7 (from 4:00 to 23:00) for legal entities, private entrepreneurs and individuals (IBAN-IBAN). This schedule allows to meet all business-needs of our customers.

But we are changing, so we will be grateful if you share your experience with us by filling out a short questionnaire.

Save information about ISO20022

We’ve put together the most important information about the new ISO20022 payment standard for local currency transactions to make it easier for you to share it with your counterparties.