Banks of Ukraine will introduce the service of instant transfers within the framework of the Electronic Payment System (EPS) 4.1 in the first half of 2025. Currently, 19 out of 61 banks operating on the market have already implemented this opportunity, including 8 systemically important financial institutions. About this reported Deputy Chairman of the NBU Oleksiy Shaban.
“Part of the banks have already implemented such functionality, and now 75% of all instant payments are processed within 2 seconds, and 88% within 3 seconds,” Shaban said
According to him, this corresponds to the key requirement of the updated SEP 4.1, according to which the transfer of funds between different banks using IBAN details should take place no longer than 10 seconds. The popularity of the new service is growing rapidly among users. In December 2024, Ukrainians made 11,500 instant payments, while in the first two months of 2025, the number of such transactions increased to 55,200 for a total of 543 million hryvnias.
The deputy head of the NBU also spoke about the structure of bank payments in Ukraine. Small payments up to 1,000 hryvnias (40%) and transactions for amounts from 1,000 to 100,000 hryvnias (55%) make up the largest number of transactions. At the same time, in terms of the total amount, almost all funds — 98.5% — go through large transfers of over 100,000 hryvnias.
Among the banks that already provide customers with the service of instant transfers are the largest state and commercial institutions: PrivatBank, Oschadbank, Ukreximbank, Raiffeisen Bank, Ukrsibbank, Sens Bank, Credit Agricole Bank, as well as several smaller banks. The updated version of the electronic payment system with the function of instant credit transfers officially became operational on December 1, 2024.
