BankID System Overhaul
The National Bank of Ukraine (NBU) will end the free-of-charge operation of the BankID system for businesses and introduce new tariffs, effective June 24, 2026. The announcement was made by Olha Vasylieva, Deputy Director of the NBU's Payment Systems and Innovative Development Department, during the Ukraine Fintech Week'26 event in Kyiv. These changes will apply exclusively to banks and commercial companies that utilize the system. BankID is a critical digital identification infrastructure widely used for secure online authentication in Ukraine.
According to the new fee structure:
- Connection to BankID for an identity-subscriber will cost 21,600 hryvnias;
- Connection for a service-provider subscriber will be priced at 16,800 hryvnias;
- Launching an additional portal will be assessed at 12,000 hryvnias;
- A fee of 30 kopiyoks will be charged for processing each successful electronic identity verification.
Enhanced Functions and Security Requirements
Alongside the end of the free service, the BankID system is also expanding its capabilities. Banks will now be able to transmit data about individual entrepreneurs through BankID, including information from state registries, lists of economic activity codes (KVED), and license details. The role of identifiers is now permitted for payment institutions, and the company NovaPay has already applied for such a connection.
Furthermore, the NBU is strengthening security requirements for financial institutions. The mandatory implementation of two-factor authentication with a dynamic factor will be required, along with annual penetration testing. A new parameter will be added to the system, allowing visibility into how a client passed their initial verification: via an in-person visit, video call, or through the 'Diia' app.
'The system has operated free of charge for you for four years, but we are introducing tariffs for our services,' noted Olha Vasylieva.
The termination of the free regime and the introduction of new tariffs for the BankID system could significantly impact Ukraine's financial sector. On one hand, it means increased costs for banks and commercial companies, which will have to adapt their business models to the new conditions. On the other hand, the expansion of the system's functions and heightened security requirements may contribute to improved customer data protection and enhance the overall reliability of financial services in Ukraine.
As the National Bank of Ukraine prepares to implement these new fees for the BankID system, businesses will need to adapt to a changing financial landscape. This shift in policy aligns with other significant regulatory updates, such as new cashless payment regulations set to take effect in 2026, which will also impact how companies manage their financial transactions.