Will a Popular Service in Monobank Become Paid? What We Know

Monobank is considering introducing a commission for transfers from their own funds to cards of other banks within the Mastercard payment system. This is what the Mainpost reports, citing the bank's current tariffs.

According to the tariffs, such transfers would incur a fee of 0,5% of the transaction amount. At the same time, transfers of own funds to cards of other Ukrainian banks within the Visa payment system remain commission-free.

When the commission could appear

The tariffs state that the new terms are supposed to take effect from 18 October.

monobank.ua screenshot

Meanwhile, Monobank co-founder Oleh Gorokhovskyi stated in a Threads post that a final decision on introducing a commission has not yet been made. According to him, even if the bank implements it, this will not happen 18 October.

threads screenshot

So for now, clients do not pay an additional 0,5% for such transfers.

What will change for clients

If Monobank ultimately approves the new tariff, it will apply to transfers of own funds from a Monobank card to Mastercard cards of other Ukrainian banks.

At the same time, for certain operations a commission of 0,9% is already provided—for example, for transferring own funds to a card or account issued or opened by a non-bank payment service provider.

As a reminder, Monobank previously allowed blocking users who send unwanted transfers or comments to them. The feature was launched after customers complained about unwanted messages during transfers. A user can be blocked in the transaction details in the app. After that, they will not be able to send money or comments to that customer.