The digital bank monobank has eliminated fees for all incoming and outgoing international SWIFT payments for individual and business customers, according to the project’s co-founder, Oleg Gorokhovsky.
“Previously, a SWIFT transfer cost users an average of about 1,000 UAH in fees,” he wrote on his Telegram channel on Wednesday.
According to Gorokhovsky, such payments are currently important for businesses due to the possibility of cheaper procurement, and for individuals—to pay for education, medical treatment, and military equipment.
He added that the bank earned over 11 million UAH per year from these fees.
monobank is a branchless mobile bank founded in January 2017 by former PrivatBank top managers Oleg Gorokhovsky, Dmytro Dubilet, and Mykhailo Rogalsky. The project operates under the banking license of Universal Bank, which is part of the TAS Group (Kyiv).
According to the National Bank, as of April 1, 2026, Universal Bank had issued a total of 29.42 million cards, of which 10.17 million were used for transactions during the month.
