Update: The free money transfer to Ukraine is no longer in force since 02/01/2024.

ING News

Luxembourg, 16/03/2022

FAQ - ING and the situation in Ukraine

The situation in Ukraine and Russia is changing rapidly. We understand that you may have questions about the situation there and the consequences for your banking business here. In this page you will find answers to the most frequently asked questions.

Receiving or transferring money to or from Russia or Ukraine

You can still transfer money to and from Ukraine. However, the National Bank of Ukraine has imposed restrictions, which is why some banks in Ukraine may refuse certain transfers.

ING has decided to reimburse transaction fees for international payments to Ukraine. This measure has been effective since 1 March.

However, ING can only reimburse the costs it charges itself, so be sure to make the transfer with “OUR” costs and not “SHA” (shared) or “BEN” (costs at the beneficiary’s expense).

You can still transfer money to and from Russia. However, payments to and from some Russian banks are blocked and therefore refused by ING. 

Furthermore, it is possible that some Russian banks interpret the sanctions and limitations differently, and take the decision to refuse the transfer themselves. We therefore cannot guarantee the execution of your transfer by Russian bankers. 

Due to international sanctions, payments to and from some Russian banks are currently blocked.

In Ukraine, the default currency is the euro. We do not support the Ukrainian hryvnia. The beneficiary’s bank can convert the euro amount into the currency of the beneficiary’s bank account. In this case, an exchange rate surcharge may be applied.

No, we no longer exchange the Russian rouble or the Belarusian rouble.

Stay alert against online fraud

In response to the current situation, many humanitarian actions have been launched on the internet. Malevolent people may try to take advantage of this situation. Therefore, be very careful when clicking on links for collecting donations, and make sure you are on the official website of a charity. 

ING is aware that the risk of cyber-attacks is increased by the conflict in Ukraine, which is why the preventive measures already in place have been reinforced. The bank is implementing all possible measures to react appropriately whenever required.

More information

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