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Automatically translated version. May contain inaccuracies compared to the original.
The Verkhovna Rada still has not adopted bill No.14327-d, which is necessary for Ukraine’s accession to the Single Euro Payments Area (SEPA). Meeting this condition is tied to international financing, and after integration Ukrainians and businesses will be able to save on international transfers. At the same time, disputes have arisen in parliament regarding financial monitoring and the future register of bank accounts, reports “Glavcom.”
Bill No.14327-d foresees amendments to Ukrainian legislation to align with European Union norms and the criteria of the European Payments Council. The document was registered on 6 April 2026. According to the official bill entry on the Verkhovna Rada website, it is awaiting consideration.
As RBC-Ukraine notes, delays in adopting the document could affect obtaining about 1,4 billion dollars in international financing. This concerns funds under the EU’s Ukraine Facility program and the World Bank’s DPL-2 program.
Bohdan Slutsky, an economist at the Centre for Economic Strategy, estimates potential EU financing at nearly 400 million dollars, and from the World Bank at approximately 1 billion dollars. At the same time, Servant of the People MP Olga Vasilevska-Smaglyuk names the amount at risk under the DPL-2 program as 800 million dollars.
According to the MP, Ukraine did not meet the corresponding condition under the previous DPL-1 program, but the World Bank agreed to carry it over to the next stage. Now, Vasilevska-Smaglyuk says, noncompliance with the requirement could mean loss of financing.
What joining SEPA will change
SEPA is the Single Euro Payments Area, which enables cross-border transfers under standardized rules. For Ukrainians, joining it would mean a potential reduction in the cost of transfers to European countries, and for businesses—lower costs for settlements with foreign partners.
According to estimates from the Ministry of Finance cited by RBC-Ukraine, Ukraine could save between 70 and 100 million euros annually on fees. Other estimates reach 200 million euros.
Currently, a transfer of 500 euros from Ukraine to an account in Poland can cost 15–50 euros. After integration into SEPA, fees, depending on the specific bank’s conditions and the type of operation, could fall significantly.
Ukrainians abroad who help relatives or pay for education could also feel the benefits. For exporters, cheaper settlements would mean lower transaction costs and better conditions for operating in the European market.
According to Vasilevska-Smaglyuk, 57 of 59 Ukrainian commercial banks are already technically ready to join. At the same time, the National Bank notes that most institutions may need another 6–12 months for technical connection after Ukraine joins SEPA. A separate period is required for the European Payments Council to review the application.
Why the bill is stalled
One reason for parliamentary disputes has been provisions on financial monitoring. According to Vasilevska-Smaglyuk, some MPs insist on personnel changes in the State Financial Monitoring Service or link support for the document to issues of leadership at the National Bank.
In particular, representatives of the Holos faction, according to RBC-Ukraine, demand that the bill provide for a competition with international experts participating for the position of head of the State Financial Monitoring Service. Vasilevska-Smaglyuk considers such demands inappropriate within a bill on joining SEPA, since personnel procedures should be regulated by separate documents.
As a compromise, she says, the bill included provisions on an international audit of the State Financial Monitoring Service. However, disputes around the reform continue.
The MP also connects some of the resistance to lawmakers’ fears regarding financial monitoring rules and the status of politically exposed persons (PEP). At the same time, these explanations reflect her position and are not independently confirmed as the motive of all MPs who do not support the document.
Does the register threaten banking secrecy
Another contentious element of the bill is the creation of a unified register of bank accounts and safes. Critics of the reform fear that it could expand state agencies’ access to citizens’ financial information.
Vasilevska-Smaglyuk denies these concerns. She explains that the register will contain basic information about the account holder, the bank, and the existence of an account or safe, but not information about balances or money movement.
The Ministry of Finance is to administer the register, and access to the data will be provided to authorized state agencies in cases defined by law. The National Bank also emphasizes that the information will retain the status of banking secrecy.
At the same time, the practical functioning of the system will depend on the adopted norms, the procedure for access to information, and the technical readiness of the responsible institutions.
Why it’s important not to delay the reform
According to Bohdan Slutsky, launching SEPA in 2028 is already an optimistic scenario. After the bill is adopted, Ukraine must go through the procedure of submitting and reviewing an application, and banks must complete connection to the payment system.
An additional factor is the approach of 10 July 2027, when the main requirements of the new EU Regulation 2024/1624 on anti-money laundering will start to apply. According to discussion participants, later accession may require more complex legislative adaptation.
Thus, the delay in considering the bill creates risks both for Ukraine’s European financial integration and for obtaining international assistance. At the same time, final timelines for joining SEPA will depend not only on parliamentary voting but also on subsequent procedures and the readiness of financial institutions.
Recall that the Verkhovna Rada did not hold plenary sessions for 26 days—from 17 September to 13 October. MP Yaroslav Zheleznyak criticized the decision amid a difficult situation with state finances and the need to adopt laws related to Ukraine’s international financing.
Document: PDF proof of the original version of the news item "Фінансовий безвіз для українців під загрозою: що блокує приєднання до SEPA". It records the publication content at the moment of the first scan, the preservation date and the source: NARDEP 24.
