Ukraine crisis

The war in Ukraine has sparked an unfolding humanitarian crisis and is an extremely worrying time for those with family, friends or colleagues in the country. We want to respond in any way we can to this fast-moving situation and we have initiated a number of measures to support those impacted:

• We are refunding Bank of Ireland charges for customers sending money to family, friends or colleagues in Ukraine, backdated to 24 February;
• We are also refunding Bank of Ireland charges for customers sending money to family, friends or colleagues in Moldova;
• Our Vulnerable Customer Unit will support displaced Ukrainians who need banking services, including guidance on transferring assets and any other assistance. Bank of Ireland offers advice to customers about opening accounts in 20 languages currently, including Ukrainian.
• As part of our initial response, we are donating €100,000 to UNICEF Ireland, as the charity works to deliver aid to people fleeing the conflict; and,
• The financial services sector also plays a very important role in sanctions and payments screening. Bank of Ireland is applying all enhanced international banking sanctions that have been introduced since the invasion commenced, and stands ready to do more as directed by the international regulatory and political response.

Our thoughts are with the Ukrainian people. We will continue to closely monitor unfolding events and add to our response.

How can I make a transfer to Ukraine?

Money transfers to Ukraine can be made in branch and charges will be waived. Money transfers to Ukraine can also be made via our BusinessOnLine and FXPAY online banking channels, where refunds of charges will be made within 5 working days. Customers will see a credit on their account labelled as a refund.

Money transfers to Ukraine can be made in branch or by calling us on 0818 365 365 and choosing Option 6, and charges will be waived. Money transfers to Ukraine can also be made via 365 online, our Business On Line and FXPAY online banking channels, where refunds of charges will be made within 5 working days. Customers will see a credit on their account labelled as a refund.

• Opening a bank account
  If you are a Ukrainian refugee that has arrived in Northern Ireland and need a bank account, Bank of Ireland UK will support you by helping you to apply for a Basic Cash Account that offers you a secure place to keep and access your money.
   
  You can find more details on our Basic Cash Account and how to apply online at Features – Bank of Ireland UK
  
• Transferring money to Ukraine
  Money transfers to Ukraine can be made in branch and charges will be waived. Money transfers to Ukraine can also be made via our BusinessOnLine and FXPAY online banking channels, where refunds of charges will be made within 5 working days. Customers will see a credit on their account labelled as a refund.
  
• Supports for Business Customers
  We recognise that the war in Ukraine may impact businesses in a variety of ways. At Bank of Ireland UK we want to support our business customers that have been disrupted.
   
  Whether it is readjustment to your supply chain, rising commodity prices or fuel costs, we are here to support with a range of cash flow & working capital solutions.
   
  Find out more: Business – Bank of Ireland UK
  
• Homes for Ukraine Scheme
  Bank of Ireland UK is proud to be supporting the UK Homes for Ukraine Scheme which has been announced by the government.
   
  Find out more: Existing customer – Bank of Ireland UK
  
• Removal of Russian Banks from SWIFT and impact on Bank of Ireland customers

  SWIFT stands for the ‘Society for Worldwide Interbank Financial Telecommunications.

  SWIFT is used by over 11,000 financial institutions in more than 220 countries and territories to send and receive payments and other information securely. SWIFT is the primary network that banks use to move money globally.

  EU Authorities decided that 7 Russian banks would be disconnected from SWIFT by 12th March 2022. Disconnecting Russian banks from SWIFT will impact Russia’s ability to carry out international financial transactions.

  Bank of Ireland has removed the 7 Russian banks from branch facilitated payments, 365OnLine, Business On Line and FXPay to comply with the regulation.

  EU Authorities also determined that 3 banks in Belarus be removed from SWIFT by 20th March 2022. Bank of Ireland has complied with this requirement.

  The following is a list of the Russian banks currently impacted and their BIC (Bank Identifier Code):

  Country	Bank Identifier Code (BIC)	Bank Name
  Russia	VTBRRUMM	JSC VTB BANK
  Russia	VTBRRUM2	JSC VTB BANK
  Russia	VTCARUMM	JSC VTB CAPITAL
  Russia	MOSWRUM2	BM-BANK JOINT-STOCK COMPANY
  Russia	POSBRUMM	POST BANK JOINT STOCK COMPANY
  Russia	CNOVRUMM	NOVIKOMBANK JSC
  Russia	PRMSRUMM	PROMSVYAZBANK PJSC
  Russia	JSNMRUMM	BANK OTKRITIE FINANCIAL CORPORATION (PUBLIC JOINT-STOCK COMPANY)
  Russia	RUDLRUMM	BANK OTKRITIE FINANCIAL CORPORATION (PUBLIC JOINT-STOCK COMPANY)
  Russia	OBJSRUMM	OTKRITIE BROKER JOINT STOCK COMPANY
  Russia	RUIDRUMM	ROSGOSSTRAKH BANK
  Russia	ROSYRU2P	THE ROSSIYA BANK
  Russia	SOMRRUMM	SOVCOMBANK
  Russia	DALVRU8X	ORIENT EXPRESS BANK
  Russia	BFEARUMM	VEB BANK (VNESHECONOMBANK)
  Russia	EXIRRUMM	EXIMBANK OF RUSSIA JSC
  Belarus	BAPBBY2X	BYELORUSSIAN JOINT-STOCK COMM. AGROINDUST. BANK (BELAGROPROMBANK)
  Belarus	MMBNBY22	UC FOREIGN BANK ‘MOSCOW-MINSK’ MINSK (BANK DABRABYT)
  Belarus	BRRBBY2X	JOINT-STOCK COMPANY ‘DEVELOPMENT BANK OF THE REPUBLIC OF BELARUS’

• How will the removal of these Banks from SWIFT impact Bank of Ireland customers?
  Branch Network
  Customers can no longer request a BOI branch to make a payment (via a form in the branch) to the banks that have been removed from SWIFT.
   
  365 OnLine
  365 customers will no longer be able to make payments/money transfers to their Russian payees if their account is held in one of the Russian banks removed from SWIFT.
   
  The payee will still be saved within 365 but it will not be possible to send a transfer to the payee.
   
  You should contact your payee directly with any queries.
   
  There is no option to make payments/money transfers to Belarus on 365OnLine at this time.
   
  Business On Line
  Business On Line customers will no longer be able to make payments/money transfers to their Russian or Belarus payees if their account is held in one of the Russian or Belarus banks removed from SWIFT.
   
  The payee will be removed from Business On Line.
   
  You should contact your payee directly with any queries.
   
  FXPay
  FXPay customers will no longer be able to make payments/money transfers to their Russian payees if their account is held in one of the Russian banks removed from SWIFT.
   
  The payment will no longer be completed by FXPay.
   
  You should contact your payee directly with any queries.
   
  Incoming Payments to Bank of Ireland UK customer accounts from Russia
   
  If a Bank of Ireland UK customer is expecting a payment/money transfer from an account holder in one of the 7 Russian banks or 3 Belarussian Banks removed from SWIFT, the transfer will not be possible and you should contact the payer for further information.
  
• Questions you might have
  This is a very fast-moving and dynamic situation and we know that customers are anxious to adapt their own payment processes to the evolving scenario in Russia. Customers are advised to monitor updates from regulatory agencies for the latest information on economic sanctions and export controls that may impact their transactions.
   
  How are these new sanctions impacting payments?
   
  As with any implementation of new sanctions, additional manual reviews we have implemented may impact payment processing times. Customers should send us instructions as early as possible to allow for additional processing time. If a sanctioned entity or person is identified in the payment/money transfer, the payment will be dispositioned according to the applicable sanction regulations, which may include blocking or rejecting the transaction.
   
  It is important that you provide a meaningful description of the purpose of the payment/money transfer. Any missing or misleading information may lead to requests for additional information that can delay the payment or result in its rejection.
   
  Where can customers get more information?
   
  Bank of Ireland is unable to provide legal or regulatory advice to our customers. Customers should consult their own legal counsel.
   
  Useful information about sanctions can be found on the following website:
   
  The UK Sanctions List – GOV.UK (www.gov.uk)
   
  Bank of Ireland UK Debit (VISA) and Credit Cards (Mastercard)
   
  Card schemes (VISA and MasterCard) who are global schemes for Point of Sale (POS) – instore purchases, cash machines and eCommerce (online) card transaction services, have made a business decision to suspend all activity in Russia.
   
  Since 10 March, all Visa and Mastercard authorisation in Russia stopped. This means that any Russian issued VISA card will not work outside of Russia and non-Russian issued Visa cards (e.g. Bank of Ireland UK Visa card) will not work in Russia. This also applies to customers using digital wallets on their mobile device e.g. ApplePay.
  
• Important notes
  • Sanctioned Countries means any country or other territory subject to a country-wide export, import, financial or investment embargo which, as of the date hereof, includes Iran, North Korea, Syria and Crimea; and additionally Cuba in respect of transactions which have a nexus to the United States.
  • There are comprehensive sanctions in place against each of the Sanctioned Countries and accordingly, it remains outside our risk appetite (and profile) to provide financial services to customers resident, incorporated or otherwise located in the Sanctioned Countries or where we are on notice that customer funds either originate in or are ultimately destined for use in these countries.
  • In certain limited circumstances permitted by law, licence and/or exemption, and strictly on an exceptional case-by-case basis requiring our prior approval, we will consider (at our sole discretion) commencing or continuing a customer relationship with a natural or legal person having trade links to a Sanctioned Country strictly subject to all requirements identified as part of our enhanced due diligence process being met. We do however reserve the right to decline any application or transaction which falls outside our risk appetite.
  • We are aware that the European Union, the United Kingdom and the United States have imposed, and are in the process of imposing, extensive sanctions on Russia and Belarus in response to the purported recognition by Russia of the so-called Donetsk People’s Republic and Luhansk People’s Republic regions of Ukraine and Russia’s continued efforts to undermine the sovereignty and territorial integrity of Ukraine.
  • These new or expanded sanctions may be disruptive to business, particularly in the context of our ability to process cross-border, electronic payments to certain Russian individuals, entities and financial institutions, and affected customers should proactively engage with their local Business Managers.