Bank of Ireland offers free money transfers to Ukraine

Bank of Ireland is waiving all fees and charges for international transfers to Ukraine.

he moved from February 24, the date of the start of the invasion of Russia. The bank’s chief executive Francesca McDonagh said the humanitarian impact of war was always on people’s minds.

Free means more money for Irish people going to family and loved ones in Ukraine.

Speaking after the release of full-year results for 2021 Francesca McDonagh said the Irish bank has no direct contact with Russia or Ukraine.

She said the impact on clients is likely to be indirect, including possibly higher-than-expected inflation due to disruptions in trade in oil and gas from Russia and grain from Ukraine.

In the meantime, the bank is imposing all new sanctions and screening international transfers against named individuals and entities subject to EU sanctions.

Excluding banks in Russia from the international SWIFT system used in cross-border transfers, she said, does not require action from individual banks because it is a centralized system, she said. Bank of Ireland offers free money transfers to Ukraine

Fry Electronics Team

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