Monobank FOP review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Monobank FOP referral suits Ukrainian sole traders and freelancers: the monthly fee is UAH 0 and transfers to any IBAN account are UAH 0. Costs stay low, but 3 currencies and a digital-only service limit it to businesses trading close to home.
Key facts
- Best for
- A business account where the monthly fee is UAH 0 and currency conversion is 0%.
- Monthly fee
- UAH 0↗
- Currency conversion fee
- 0%↗
- Currencies
- 3↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- UAH 50,000↗
- Transfer fee
- 0 UAH for transfers to any IBAN account↗
- Legal entity
- AT UNIVERSAL BANK↗
- Headquarters
- Ukraine↗
- Support channels
- Phone, Chat, Help-centre↗
- Audience
- Business, Freelancers
- Pricing model
- No monthly fee, Low FX fees
- Features
- Digital-only
- Official website
- monobank.ua
Savings
Money transfer
- Delivery time
- Instant for P2P card transfers if the recipient card supports instant operations, otherwise within 3 days; SWIFT/SEPA usually same or next day↗
- Payout methods
- Card, Cash-pickup↗
- Fee to send 1,000
- UAH 0↗
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- App Store
- Elsewhere
- WikidataWikipediaXinstagram.com
Pros and cons
Pros
- Transfers to any IBAN account cost UAH 0, which keeps supplier payments clear of charge.
- Licensed in Ukraine by the National Bank of Ukraine under NBU licence No 92 dated 20.01.1994; bank register No 226.
- Support runs on phone, chat and help centre.
- Withdrawals include an allowance of UAH 50,000 before card charges.
Cons
- Only 3 currencies are offered, so a business billing further afield needs another account for those markets.
- The account is digital only, so banking runs through the app rather than a branch counter.
- International card payouts depend on the receiving card, so some transfers arrive later than instant ones.
Who it suits
- Sole traders and freelancers in Ukraine who invoice and pay out from the same account.
- Businesses paying suppliers by IBAN transfer and holding a small currency set.
- Users who want a deposit product next to the current account, with terms of 12 to 24.
Who should look elsewhere
- PayPal Colombia, whose monthly fee is $0, fits online buyers rather than a Ukrainian business account.
- Skrill, at €0 a month, suits wallet transfers rather than holding a business account with an IBAN.
- Plazo ES, at €0 a month, is the euro option for savers rather than Ukrainian sole traders.
Fees and currency costs
The monthly fee is UAH 0 and the currency conversion fee is 0%, so holding and converting money costs almost nothing. Transfers to any IBAN account are 0 UAH for transfers to any IBAN account, which keeps supplier and contractor payments clear of charge for a business that runs its day to day banking through the account. A sole trader earning and spending in several currencies keeps its cost line short.
How Monobank FOP compares
9.3 vs 8.7
9.3 vs 8.6
9.3 vs 8.0
9.3 vs 8.9
9.3 vs 9.1
9.3 vs 9.2
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 9.0Its monthly fee of €0 suits wallet transfers, where this account gives iban and a Ukrainian banking licence.
9.3 vs 8.7
9.3 vs 9.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
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9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.9- 9.3 vs 8.9
9.3 vs 8.7
9.3 vs 8.5
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9.3 vs 8.5
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9.3 vs 8.3
9.3 vs 8.2
9.3 vs 8.1- 9.3 vs 8.1
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 9.1
Where Monobank FOP is available
- Available
- Ukraine
- Licence in Ukraine
- National Bank of Ukraine (NBU licence No 92 dated 20.01.1994; bank register No 226), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to run a Monobank FOP account?+
The monthly fee is UAH 0 and the currency conversion fee is 0%. Transfers to any IBAN account cost UAH 0, so paying a supplier or contractor adds no transfer charge to the account. For a business that keeps its day to day money in one place, the running cost stays close to nothing.
Who regulates the account?+
The account is issued by AT UNIVERSAL BANK and regulated by the National Bank of Ukraine, which holds NBU licence No 92 dated 20.01.1994; bank register No 226. It is a bank account in the Ukrainian system rather than a foreign e-money wallet, which matters to businesses that need an IBAN and a deposit product alongside current banking.
How many currencies does the account hold?+
The account covers 3 currencies and provides local details as iban. A business that bills clients in a longer list of currencies converts through the same account at a conversion fee of 0%, and the narrow currency list is the main limit on it.
Who is the account aimed at?+
The account is built for business and freelancer users, so a sole trader or freelancer can invoice, receive and pay out from one place. It suits people who already have a Ukrainian business setup, and less so anyone who only wants a personal wallet for everyday spending.
Is it a branch account or an app account?+
The account is digital only, so everything runs in the app rather than over a counter. Help runs on phone, chat and help centre, which covers phone and chat as well as a self-serve help centre for routine questions.
Can I take money out in cash?+
Payouts run to card and cash pickup, so money can arrive on a card or be collected as cash, and card withdrawals include an allowance of UAH 50,000 before charges. A business that pays staff in cash needs to plan around that allowance.
Can spare balance earn interest?+
Spare cash can sit in a deposit paying 16% at a fixed rate, with terms of 12 to 24 and a minimum deposit of UAH 1,000. The account kind is fixed, and the access terms allow a withdrawal or reinvestment at any point, with renewal by default.
How fast are international payments?+
Card-to-card payments are instant where the receiving card supports instant operations, and SWIFT or SEPA transfers usually arrive the same day or the next. Where the recipient card cannot handle instant operations, a card transfer takes longer. Transfers to any IBAN account still cost UAH 0.
Sources
- monobank.ua checked September 26, 2026
Backs: Support channels
- monobank.ua/about checked September 26, 2026
Backs: Features, Headquarters, Legal entity, Licences
- monobank.ua/business/currency-account checked September 26, 2026
Backs: Currency conversion fee
- monobank.ua/en/deposit checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term
“Cash out or reinvest - change your mind anytime; From 3 to 24 months; Auto-renews by default”
- monobank.ua/en/fop checked September 26, 2026
Backs: Fee to send 1,000
“0 UAH fee ... Account opening and servicing ... Send money to any account via IBAN”
- monobank.ua/en/international checked September 26, 2026
Backs: Delivery time, Payout methods
- monobank.ua/fop checked September 26, 2026
Backs: Free ATM withdrawals, Audience, Currencies, Local account details, Pricing model, Monthly fee, Transfer fee
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
Related by the facts
Guides
Monobank FOP
A business account where the monthly fee is UAH 0 and currency conversion is 0%.