Updated: July 20, 2026. Tariffs are based on May-July 2026 reviews and may change — check the bank's website for final conditions.
For most FOPs without cash revenue, the cheapest option in 2026 is monobank: free service, zero commissions for transfers of own funds and foreign currency accounts with free SWIFT. If the business involves cash, trade or acquiring, PrivatBank and FUIB are stronger. The difference between tariffs is real: on an active FOP, it amounts to thousands of hryvnias per year. Below is a comparative table, analysis of each bank and recommendations for the type of activity.
What to compare: five criteria
The first is the cost of service (at many banks, "free" is valid only for the first months or as a promo). The second is the commission for the main operation of the FOP: transfer of earned funds to the individual's own card. The third is currency accounts and the cost of SWIFT, which is critical for working with foreign customers. The fourth is the withdrawal of cash and limits, if the business is cash. The fifth is services around the account: acquiring, a web cabinet for an accountant, reminders or automation of taxes. The deposit rate for free funds is a bonus criterion: entrepreneurial money can also work.
Comparison table
monobank: minimum costs for service FOPs
The account is opened completely online in a few minutes, the service is free without time stars, transfers of own funds - without commission, and most importantly for freelancers and IT professionals - accounts in dollars and euros with SWIFT transfers without bank commission and free conversion. From the minuses: weaker integrations with accounting systems, limited credit opportunities for business and lack of branches - all only through the application. This is the cheapest configuration on the market for an FOP that accepts cashless payments and withdraws funds to its own card.
PrivatBank: infrastructure for trade
The most expensive in terms of regular service (after three free months — 150–500 UAH/month depending on the package), but it offers something that neobanks do not have: the largest network of branches and terminals, advanced trade acquiring, POS terminals, collection and services for automation of tax payments. For a retail outlet, cafe or any business with cash and card at the counter, Privat remains the default choice, and its cost is the infrastructure fee.
FUIB: a balanced compromise
Half a year free, then a modest 150 UAH/month, fifteen free external transfers every month (for most small FOPs, this is enough, i.e. transfers are actually free), cash withdrawals up to UAH 60,000/month without commission — and the lowest acquiring rate on the market, about 1.1%. If you accept card payments, the difference between 1.1% and 1.3% on a turnover of UAH 100,000/month is UAH 2,400 savings per year on acquiring alone.
Raiffeisen and Oschad: when they are appropriate
Raiffeisen is interesting with a promotional rate (1 hryvnias/month per year) and a high-quality business Internet bank — a worthy option for a "second account" for diversification. Oschadbank with a tariff of UAH 199/month is chosen mainly by those who work with budget institutions and tenders or appreciate the physical network. Keeping a second account, by the way, is reasonable for all FOPs: blocking or a technical failure of a single bank stops business completely, and the funds in FOP accounts are protected by the Fund's guarantee in the same way as those of individuals.
To whom which bank: short recommendations
IT, freelance, non-cash services: monobank as the main (UAH 0 + currency + SWIFT), Raiffeisen on a promo — as a backup. Trading with cash and acquiring: PrivatBank for infrastructure or PUMB for the acquiring rate. Work with foreign customers: monobank or Privat with a currency account — and remember the currency rules when receiving payments. Tenders and budget employees: Oschadbank.
Frequently asked questions
Can FOP accept payment by personal card?
No, business income must go to the FOP account: income to a personal card creates both tax risks and a reason for financial monitoring. It is possible and normal to withdraw the earnings to a personal card after enrollment in the FOP account.
How much does it cost to open a FOP account?
At all five banks, the opening is free, at neobanks - completely online in 10-15 minutes. You have to pay for monthly service and separate operations - it is they that should be compared.
Is it possible to have FOP accounts in several banks?
Yes, the number of accounts is not limited. The second account is a standard insurance against blockages and failures, many entrepreneurs keep the main account in a non-bank and a reserve account in a system bank.
Can the FOP receive currency on a single tax?
Yes, the export of services is allowed on a simplified system: you open a foreign currency account of the FOP, receive payment by SWIFT transfer, sell the currency — and the amount in hryvnias is included in income for a single tax.
Which bank is the cheapest for FOP in 2026?
By the amount of regular expenses — monobank: UAH 0 service and 0% for transfers of own funds. But the "cheapest" is not the same as "the best for everyone": businesses with cash or acquiring are cheaper with FUIB or Privat.
The material is informative in nature and is not advertising for banks. Tariffs change - check the current conditions on the official pages.
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