Ukraine Crisis

Supporting Ukraine
Supporting Ukraine


The invasion of Ukraine is an unacceptable act which has sparked an unfolding humanitarian crisis in Europe. Our thoughts are with the Ukrainian people.

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. In conjunction with other European banks, 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 information 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.

We will continue to closely monitor unfolding events and add to our response.

  • Opening a bank account / Bідкрити Банківський Pахунок

    Click here to read below in the Ukrainian language / Натисніть тут, щоб прочитати інформацію українською мовою

    Bank Account Application Form / Бланк заяви про відкриття Банківського Pахунку

    Helpful Tips for Completing Bank Account Application / Корисні поради щодо заповнення заяви про відкриття Банківського Pахунку

    Documents Needed to Open a Bank Account / Hеобхідні Документи щоб відкрити Банківський Pахунок

    Questions You Might Have on New Accounts / Питання, які ви можете мати про новий Банківський Pахунок

    At Bank of Ireland, we pride ourselves in improving the financial wellbeing of all our customers. At the heart of financial wellbeing is financial inclusion and that means access to basic banking products for all. We support individuals granted temporary protection and also applicants for international protection by providing access to banking products and recognising the need for interpretive services to ensure that they get the financial service supports they need.

    We have two products for everyday banking needs which may be suitable to support individuals granted temporary protection and also applicants for international protection; a personal current account and a basic bank account, both of which offer you a secure place to keep and access your money. The details for each of these accounts and a list of the documents required to open these accounts are provided at the link below.

    When you have your required documentation ready you can come into any Bank of Ireland branch and we can start the process to get your new account set up. You can also open a personal current account online.

    We understand that some customers may not have any English language skills or may feel their English skills aren’t sufficient in order to be able to answer the questions during a branch visit. If this is the case for you, we are happy for you to bring a friend, colleague or translator with you who can interpret for you.

    In addition, several Bank of Ireland colleagues speak a number of languages and we would be happy to try help if you don’t have someone who can interpret. Just ask your Welcome Advisor in the branch.

    You can find more details at www.bankofireland.com/welcome

    Terms and conditions apply.

  • How can I make a transfer to Ukraine?

    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 support to customers about opening accounts in 20 languages currently, including Ukrainian. We are also refunding Bank of Ireland charges for customers sending money to family, friends or colleagues in Ukraine, backdated to 24th February. You can find out more information by calling 1850 222 200 or 01 488 2019 (our lines are open 9am-5pm, Monday to Friday).

    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.

  • Supports for Business Customers

    We recognise that the war in Ukraine may impact Irish businesses in a variety of ways. At Bank of Ireland we want to support Irish businesses 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 and working capital solutions.

    Find out more

  • 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’
  • BOI Debit (VISA) and Credit Cards (MasterCard)

    Card schemes (VISA and MasterCard) who are global schemes for Point of Sale (POS) – instore purchases, ATM and eCommerce (online) card transaction services, have made a business decision to suspend all activity in Russia.

    Since March 10th, 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. BOI Visa card) will not work in Russia. This also applies to customers using digital wallets on their mobile device e.g. ApplePay.

  • Bank of Ireland Life Investment, Pension and Protection Policies

    At Bank of Ireland Life we’ve been active in identifying any exposure to Russian assets in our investment suite. We have assets under management (AUM) of circa €21bn, with total exposure to Russian assets of 0.1% of AUM. Furthermore, our investment managers have advised that index providers such as the MSCI and FTSE are removing exposure to Russian securities. The result is that holdings of Russian securities will be exited in line with applicable sanctions and mandates.

    If you’ve been affected by the conflict in Ukraine and require support in relation to your policy, please contact your Wealth Manager or visit our Market Watch page.

    Alternatively, you can call our Customer Service team on (01) 5239812. We’ll be happy to help.

    Life assurance and pensions products are provided by New Ireland Assurance Company plc., trading as Bank of Ireland Life. New Ireland Assurance Company plc., trading as Bank of Ireland Life is regulated by the Central Bank of Ireland. Advice on Bank of Ireland Life products is provided by Bank of Ireland, trading as Bank of Ireland Insurance & Investments. Bank of Ireland trading as Bank of Ireland Insurance & Investments is regulated by the Central Bank of Ireland. Bank of Ireland is a tied agent of New Ireland Assurance Company plc trading as Bank of Ireland Life for life assurance and pensions business. Members of Bank of Ireland Group. Information correct as at March 2022.
  • 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.

    Personal Loan Payment Break

    If your income is affected by the war in Ukraine and you are concerned about making loan payments, we can offer loan payment breaks of up to 3 months. You can request a payment break for a personal loan by calling 1850 222 200 or 01 488 2019 (our lines are open 9am-5pm, Monday to Friday).

    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.

    • 365OnLine

    • 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 BOI Customer accounts from Russia

    • If a BOI 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.

    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:

    Restrictive measures (sanctions) | European Commission (europa.eu)

  • Restrictions on Deposits for Russian and Belarusian Nationals and/or Residents

    Both Russian and Belarusian nationals and/or residents with deposits in the EU are now subject to a €100,000 cap on deposits. However Russian and Belarusian nationals and/or residents who can evidence temporary or permanent residency arrangements within the EU, EEA or Switzerland will be excluded from the €100,000 cap.

    Increased Reporting Requirements

    Bank of Ireland may be required to report affected customers who hold deposits over €100,000 to the Central Bank of Ireland in line with our regulatory obligation to do so. We may also be required to highlight customers who hold Immigration Investment Programme (IIP) visas which are acquired through investment in the relevant EU, EEA (Incl. Switzerland) countries as part of this reporting. Details on the Irish IIP can be found here

    It is important to note that customers with residency permits granted by virtue of an IIP or similar will not be subject to the €100,000 cap.

    What action you need to take

    Bank of Ireland is committed to ensuring it maintains optimal services for affected customers and communities and will take every step to ensure that the normal operation of accounts can be facilitated. In order to continue to offer an uninterrupted service, affected customers will be required to present the following documents to their local branch;

    • Current passport/driver’s licence
    • Proof of address
    • Valid residency permit