National Bank of Ukraine in its letter № 18-0006/75942 as of 31.10.2022 explains that the main principles of regulating legal relations regarding the bank secrecy are defined by the Civil Code of Ukraine.
Provisions of Clause 2 Part 1 Article 1076 of the Civil Code of Ukraine stipulate that information about transactions and accounts can be provided only to clients themselves or their representatives. Other persons, including state authorities, their officials and employees may receive such information only in cases and manner established by the Law of Ukraine "On banks and banking activities" (hereinafter – Law on banks).
Article 60 of the Law on banks stipulates that the bank secrecy is information about activity and financial condition of client, which became known to the bank in a process of servicing client and relations with him / her, or became known to third parties during the provision of bank services or performance of functions defined by the Law, as well as information about the bank defined in this Article. Bank secrecy, in particular, is information about transactions carried out for benefit or on the behalf of client, transactions committed by him / her.
Along with this, procedure for banks to perform transactions on customer accounts is provided for by Article 1068 of the Civil Code of Ukraine, according to which bank is obliged by the client’s order to issue or transfer funds from his / her account on the day of receipt of the corresponding payment instruction to the bank, unless another term is provided for in the bank account agreement or by the Law.
Article 40 of the Law of Ukraine "On payment services" stipulates that payment instruction must contain information that enables the payment service provider to identify payer’s identity and recipient for payment transaction, accounts of payer and recipient, payment service providers of payer and recipient, amount of payment transaction and other information (requisites) necessary for proper execution of payment transaction.
Paragraph 59 Section IV of the Regulation on organization of accounting in banks of Ukraine, approved by Resolution of Board of the National Bank of Ukraine № 75 as of 04.07.2018, as amended (hereinafter – Regulation № 75), stipulates that the bank must make paper and / or such registers on electronic media, in particular, client accounts and statements from them.
Mandatory requisites for statements from client accounts are determined by Paragraph 61 Section IV of Regulation № 75, including, in particular, the NBU ID code of the correspondent bank; correspondent’s account number.
Paragraph 62 Section IV of Regulation № 75 stipulates that statements from client accounts are confirmation of transactions performed during a business day and are intended for issuance or sending to the client. Order, frequency of printing and form of providing statements (in paper / electronic form) from the client accounts are determined by the bank account agreement concluded between the bank and the client at the time of account opening.
Therefore, taking into account above specified, the client has a right to receive from the bank information regarding transactions carried out on his / her behalf or for his / her benefit (including in relation to the counterparty), which he / she informed the bank for receiving payment services based on a request or by receiving statement in manner specified by the bank account agreement.
