Ukraine should pass the bill to join Europe’s single euro-payment zone without delay, because it would save Ukrainians up to €100 million a year. For businesses that buy goods or equipment in the EU, the cost of a transfer would fall several-fold and settle in minutes or hours instead of five to seven days, says the country’s representative to the EU, Taras Kachka.

The bill, No. 14327-d, aligns Ukraine’s rules against money laundering and terrorism financing with EU standards and those of the Financial Action Task Force (FATF), part of the commitments on its path to EU membership. It has to move soon: the simplified route into the Single Euro Payments Area (SEPA) is open only until November 2026.

Ukraine must apply before November

If Ukraine misses that window, new stricter EU anti-money-laundering directives take effect, raising the bar and risking years of delay.

Even once parliament passes the bill, connecting Ukraine’s banks will take about another year and a half, with full launch set for 1 January 2028. In Kachka’s words: “Passing the European-integration legislation for Ukraine to join the Single Euro Payments Area is critically necessary, needed ‘yesterday.’”

He said he hopes lawmakers will use the opportunity to pass the changes.

Small business gains the most

Kachka expressed hope that Ukraine's parliament would vote in favor of the necessary amendments, using this important political moment to benefit society.

“This will truly help businesses of all sizes, traders, manufacturers, importers and, of course, ordinary people who have so many relatives and colleagues in Europe and interact with them regularly,” Kachka noted.

SEPA's greatest practical value lies with small and medium-sized firms, including limited liability companies and sole proprietors. Membership would allow them to make cross-border euro payments on the same day at minimal cost, with no need to provide founding or confirming documents for each transfer.

Additionally, Ukrainian producers who export to the EU would be paid on their invoices instantly, as easily as inside the country.

“It really is help for every small and large business, traders, producers, importers and, of course, ordinary people who have so many relatives and dealings with colleagues in Europe,” Kachka adds.