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? / Як я можу зробити переказ в Україну?

    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:

    Republic of Ireland Customers:

    Northern Ireland and Great Britain customers:

    9am to 5pm Monday to Friday (including Bank holidays)

    9am to 2pm Saturday. Closed Sunday

    Money transfers to Ukraine can be made online via Banking 365, in branch or by calling us on 0818 365 365, choosing Option 6 and charges will be waived. Money transfers to Ukraine can also be made via 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.

    Наш Bідділ для Вразливих Клієнтів (Vulnerable Customer Unit) підтримуватиме переміщених українців, які потребують банківських послуг, включаючи рекомендації щодо переказу активів та будь-яку іншу допомогу. На даний момент Банк Ірландії (Bank of Ireland) пропонує клієнтам підтримку щодо відкриття рахунків 20 мовами, включаючи й українську. Ми також повертаємо комісії Банку Ірландії (Bank of Ireland), за надсилання грошей сім’ї, друзям чи колегам в Україну, заднім числом від 24 лютого 2022 року. Більше інформації Ви можете дізнатися за телефонами 1850 222 200 або 01 488 2019 (наші лінії працюють з 9:00 до 17:00 з понеділка по п’ятницю).

    Грошові перекази в Україну можна здійснити онлайн через Банкінг 365 (Banking 365), у відділенні банку або зателефонувавши нам за номером 0818 365 365 та вибравши Опцію 6, за грошовий переказ, відповідно, не буде зніматися оплата. Грошові перекази в Україну також можна здійснити використовуючи наші цілодобові онлайн банкінг-канали Business On Line та FXPAY, де повернення oплат/комісій буде здійснено протягом 5 робочих днів. Клієнти бачитимуть повернені кошти на своєму рахунку, позначені як - refund (повернення).

  • 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 ROSYRU2P THE ROSSIYA BANK
    Russia SOMRRUMM SOVCOMBANK
    Russia DALVRU8X ORIENT EXPRESS BANK
    Russia BFEARUMM VEB BANK (VNESHECONOMBANK)
    Russia EXIRRUMM EXIMBANK OF RUSSIA JSC
    Russia BLBBBY2X BELINVESTBANK JSC
    Russia MCRBRUMM CREDIT BANK OF MOSCOW (OPEN JOINT STOCK COMPANY)
    Russia HRANRUMM NKAKHRAN NKO (OAO)
    Russia VSTARUMM BLANC BANK (LIMITED LIABILITY COMPANY)
    Russia RUNBRUMM RUSNARBANK
    Russia RUIDRUMM ROSGOSSTRAKH BANK
    Russia SKSBRUMM SKS BANK LIMITED LIABILITY COMPANY
    Russia RUAGRUMM RUSSIAN AGRICULTURAL BANKK
    Russia SABRRUMM SBERBANK
    Russia CETBRUMM CETELEM BANK, LLC
    Russia SABRRU2P SBERBANK (SEVERO-ZAPADNY HEAD OFFICE)
    Russia SABRRU66 SAVINGS BANK OF THE RUSSIAN FEDERATION (BAIKALSKY OFFICE)
    Russia SABRRU8K SBERBANK (DALNEVOSTOCHNY HEAD OFFICE)
    Russia SABRRUM3 SBERBANK (SREDNERUSSKY HEAD OFFICE)
    Russia TDICRUMM JSC SBERBANK CIB
    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
  • European Commission guidance for EU operators

    In light of Russia’s ongoing aggression in Ukraine, and the complicity of Belarus in it, there is an increased risk that both Irish and other EU operators may find themselves in a position where they may facilitate prohibited transactions with Russia and/or Belarus and therefore breach EU Sanctions in place against those two countries.

    Customers with trade links to Russia and Belarus should satisfy themselves that they have undertaken a sufficient level of due diligence as to who they are dealing with, the nature of their underlying trade with Russia and Belarus etc. in order to avoid scenarios which have the potential to breach EU Sanctions.

    The EU Commission has published the attached Guidance Note which customers should review and communicate to their legal and compliance departments.

  • Deadline to implement “no Russia clause” under the EU’s 12th package.

    As part of the EU’s 12th package of sanctions against Russia, adopted on 19 December 2023 the EU introduced a requirement under Article 12g of Regulation 822/2014 which requires EU exporters to include wording in certain goods contracts prohibiting the re-export of the goods to Russia and providing for “adequate remedies” in the event of a breach, in order to combat the circumvention of EU export bans and more specifically the situation where goods exported to third countries are re-exported to Russia.

    While there may be practical challenges in successfully introducing such a clause into a contract with a third country counterparty not bound by EU sanctions, EU businesses should be mindful that this will be a legal requirement for all in-scope contracts from the relevant effective date.

    By way of reminder, contracts concluded from 19 December 2023 onwards must contain the ‘no re-export to Russia’ clause as of 20 March 2024.

    Template clause

    On 22 February 2024, the EU published guidance on the Article 12g requirement. The guidance provides the following example of a clause which meets the requirements of Article 12g.

    This is intended as guidance only, exemplifying a clause which satisfies all the relevant requirements; parties are nevertheless free to decide on their own appropriate wording as long as the clause meets the requirements of Article 12g.

    Whilst this provides a helpful template, the clause should in any event be carefully reviewed within the context of the relevant governing law of the contract, should parties decide to use the example text below:

    “(1) The [Importer/Buyer] shall not sell, export or re-export, directly or indirectly, to the Russian Federation or for use in the Russian Federation any goods supplied under or in connection with this Agreement that fall under the scope of Article 12g of Council Regulation (EU) No 833/2014.

    (2) The [Importer/Buyer] shall undertake its best efforts to ensure that the purpose of paragraph (1) is not frustrated by any third parties further down the commercial chain, including by possible resellers.

    (3) The [Importer/Buyer] shall set up and maintain an adequate monitoring mechanism to detect conduct by any third parties further down the commercial chain, including by possible resellers, that would frustrate the purpose of paragraph (1).

    (4) Any violation of paragraphs (1), (2) or (3) shall constitute a material breach of an essential element of this Agreement, and the [Exporter/Seller] shall be entitled to seek appropriate remedies, including, but not limited to:

    (ii) termination of this Agreement; and
    (ii) a penalty of [XX]% of the total value of this Agreement or price of the goods exported, whichever is higher.

    (5) The [Importer/Buyer] shall immediately inform the [Exporter/Seller] about any problems in applying paragraphs (1), (2) or (3), including any relevant activities by third parties that could frustrate the purpose of paragraph (1). The [Importer/Buyer] shall make available to the [Exporter/Seller] information concerning compliance with the obligations under paragraph (1), (2) and (3) within two weeks of the simple request of such information.”

    Timeframe

    Contracts concluded from 19 December 2023 onwards: The “no Russia clause” must be included in all contracts concluded after the date Council Regulation (EU) 2023/2878 came into force – 19 December 2023 – from 20 March 2024.

    Contracts concluded prior to 19 December 2023: Contracts that were already concluded when Council Regulation (EU) 2023/2878 came into force benefit from a one-year transition period until 19 December 2024, inclusive (or until the contracts’ expiry, whichever is earliest). All pre-existing contracts must therefore have a “no Russia clause” in place from 20 December 2024.

  • EU announces Update to “No Russia Clause” and introduces a “No Re-Export to Belarus” Clause.

    On the 24 June 2024, the EU's announced the 14th package of sanctions against Russia.

    The 12th package of sanctions against Russia had introduced Article 12g into Council Regulation (EU) No 833/2014, requiring EU exporters to contractually prohibit the re-exportation to Russia and the re-exportation for use in Russia of certain goods when exporting, selling, supplying or transferring those goods from the EU to certain third countries (the No Russia Clause).

    The 14th package of sanctions has amended Article 12g in order to reduce the implementation burden for EU operators:

    • Firstly, for contracts concluded before the adoption of the 12th package on the 19 December 2023, the deadline to ensure compliance was extended from 20 December 2024 to 1 January 2025.
    • Secondly, a new exemption for public contracts: contracts entered into with public authorities in third countries or with international organisations do not need to include a No Russia Clause, but EU exporters must inform their national competent authority within 2 weeks of concluding a contract that benefits from this exemption.

    The European Commission has updated its Guidance on Article 12g to reflect these changes.

    New 'No Re-Export to Belarus' Requirement

    Separately, on 29 June 2024, the EU Council announced further sanctions targeting Belarus, and amending Council Regulation (EC) No 765/2006 (by Council Regulation (EU) 2024/1865) to mirror several of the restrictive measures already in place against Russia.

    A newly inserted Article 8g requires EU-based exporters to include a 'No Belarus clause' in contracts for the export of specific types of goods from the EU to certain third countries (contractually prohibiting the re-exportation to Belarus, and the re-exportation for use in Belarus, of those goods). Article 8g largely reflects the recently amended Article 12g referred to above, save that it only applies to new contracts entered into on or after 1 July 2024 (i.e. there is no requirement to insert a form of 'No Belarus clause' into contracts concluded prior to 1 July 2024).

    Customers should familiarise themselves with the amended sanctions frameworks in respect of both Russia and Belarus to ensure ongoing compliance. For further information please review the consolidated version of FAQs issued by the European Commission.