From now on, payments to IBAN from personal funds are free of charge in the virtual monobank, according to the project’s co-founder Oleg Gorokhovsky.
“We are now removing this fee. All IBAN payments from personal funds in mono are free of charge starting today,” Gorokhovsky wrote on Telegram on Monday.
According to him, IBAN payment rates at monobank have not changed since 2017. Previously, transfers to IBAN for amounts up to UAH 10,000 were free, and for amounts over UAH 10,000, a commission of 0.5% was charged from own funds.
As Gorokhovsky noted, the income from this commission exceeded UAH 200 million per year.
The branchless mobile bank monobank was founded in January 2017 by former PrivatBank top managers Gorokhovsky, Dmytro Dubilet, and Mykhailo Rogalsky. It operates under the license of Universal Bank, which is part of the TAS Group (Kyiv) and currently serves 10.42 million customers, according to its own data.
According to the National Bank, as of the beginning of 2026, Universal Bank had issued a total of 28.22 million cards, of which 10.50 million were used for transactions during the month.
