Neobank monobank is canceling the commission for all foreign SWIFT transfers. Incoming and outgoing payments will be completely free of charge for both private individuals and business clients.
Neobank monobank is canceling the commission for all foreign SWIFT transfers. Incoming and outgoing payments will be completely free of charge for both private individuals and business clients.
This was announced by the co-owner of monobank Oleg Horohovsky.
According to his estimates, previously one such transfer cost users an average of UAH 1,000 in commission. The abolition of the fee is aimed at simplifying financial transactions for Ukrainians and local companies.
«We thought that such payments are really important for both businesses and ordinary people now. Businesses — for cheaper purchases in difficult times, people — to pay for education, treatment, and military ammunition,» said Gorohovsky.
He also added that monobank earned over UAH 11 million per year from SWIFT commissions. However, the team decided to give up this income in order to create «better conditions on the market» for customers.
Earlier, Oleg Horohovsky announced the cancellation of the commission for transferring funds via IBAN payments. He was reminded of it by a post on the social network Threads.
