A sole proprietor (FOP) account is a current account for business activity. It can be opened online without going to a branch: either right away during FOP registration in Diia, or later in the bank’s app or on its website. Below are the general steps and the differences that the banks themselves describe on their official pages. Data checked on 15 October 2026.
What You Need Before You Start
- A registered FOP. Under the Tax Code, a bank opens an account for an entrepreneur on the basis of an extract from the Unified State Register (USR) or information from that register (clause 69.1, Article 69). If you are not yet a FOP, you can register in Diia.
- An electronic signature. In Diia, the application is signed with Diia.Signature or another qualified electronic signature (QES). PrivatBank uses SmartID in the Privat24 app to sign documents.
- The Diia app. Raiffeisen Bank requires the Diia app with a taxpayer ID number and an ID card or a foreign passport.
- Personal participation. PrivatBank states directly that an authorised representative cannot open an account for a FOP.
Method 1: Through Diia Together With FOP Registration
The comprehensive service “e-Entrepreneur” combines 16 services: FOP registration, switching to the simplified taxation system, opening a bank account, registering cash-transaction registrars (RRO) and others. It is free of charge, and submitting the application takes from 10 to 40 minutes. Opening a bank account, according to Diia, is processed within one day, but when a FOP is being registered, this period is counted from the date the entry is made in the USR.
- Log in to the Diia portal.
- Open the “e-Entrepreneur” service and choose to open a bank account. You can order it right during FOP registration or later.
- Choose a bank. As of 19 March 2026, Diia listed ten partners: Kredobank, MTB Bank, Oschadbank, àbank, monobank, Sense Bank, Ukrgasbank, Raiffeisen Bank, PrivatBank and PUMB. The list changes, so check the current one in the service itself.
- Fill in the comprehensive application and sign it with Diia.Signature or another QES. The data is pulled from state registers.
- Wait for the result. It arrives by email and in the “Pay attention” section of your account, and the application status is visible in the “Services — Ordered services” section.
Method 2: Directly at the Bank
If the FOP is already registered, the account can be opened directly at the bank. Here is what three banks write on their pages:
| Bank | How to open | What the bank requires | Timing according to the bank’s application |
|---|---|---|---|
| PrivatBank | On the website or in the Privat24 app (menu “Service” → “Business”) | Be a registered FOP and a PrivatBank client; have Privat24 for signing via SmartID | Up to 24 hours, most often about 30 minutes after the application is submitted and signed |
| Raiffeisen Bank | Online application on the bank’s website | Be a registered FOP; have Diia with a taxpayer ID number and an ID card or a foreign passport; have no other business account at the bank | The application can be submitted around the clock; accounts are opened from 5:00 to 23:00 on weekdays |
| monobank | “FOP mono” page on the bank’s website | The bank writes that the application takes 9 clicks if you already have a regular mono card | Not stated on the page |
Oschadbank is also among Diia’s partners, but we did not check the terms of its online application: the bank’s website is closed to automatic reading. See the terms on the bank’s page.
Step by Step: The General Procedure
The steps are the same at all banks; only the names of the buttons differ.
- Check that the FOP is registered, and prepare an extract from the USR. You can get it in your Diia account.
- Choose a bank and the way to open it: Diia, the bank’s website or the bank’s app.
- Fill in the application. FOP data is usually pulled from the registers, but check the taxation system and the type of activity.
- Sign the application with a QES, Diia.Signature or a signature in the bank’s app.
- Get the details. PrivatBank writes that the account details are visible already after the application is submitted, and the account opening certificate and all data can be taken in “Privat24 for Business” after the account is activated.
- Check that the account has been registered with the tax authority before making expenditure transactions (more below).
After Opening
Under the Tax Code, on the day a FOP account is opened, the bank sends a notice to the tax authority, and the tax authority responds no later than the next business day: it either registers the account or refuses (clauses 69.2–69.3). If there is no refusal, the account is considered registered by tacit consent. Expenditure transactions start from the date on which the bank receives the tax authority’s notice or the date of tacit consent arrives (clause 69.4). Raiffeisen Bank writes the same: expenditure transactions become possible after the account is accepted for registration.
Separately, a FOP is obliged to notify the bank of its status (clause 69.7). Under Law No. 2464-VI, the unified contribution is paid by non-cash means from a bank account, from an account with a non-bank payment service provider or through a single account.
Money from a FOP account may be spent on personal needs too, but only after taxes are paid. PrivatBank explains that a FOP has this right after paying all mandatory taxes and fees under its taxation system.
How Much It Costs
As of 15 October 2026, opening an account is free according to the pages of all three banks. The difference lies in maintenance. For online opening, PrivatBank gives the first three months without a monthly fee under the “Business Start” tariff, and then offers a tariff with a monthly fee. Raiffeisen Bank specifies a maintenance fee of UAH 150 a month in its “Business Classic” package. monobank on its page lists the opening and maintenance of a FOP account as UAH 0. Banks change tariffs and launch promotions, so check the current tariffs before you apply.
Do not give anyone access. The QES, passwords and SMS codes belong only to you. The NBU specifically warns those who plan to sell or rent out their account or card: this is the “money mule” scheme, for participation in which Article 209 of the Criminal Code provides for imprisonment for 3 to 12 years.
Frequently Asked Questions
Can I open a FOP account without visiting a bank?
Yes. Diia describes a fully online procedure through “e-Entrepreneur,” and PrivatBank and Raiffeisen Bank have online applications on their websites. Visiting a branch is not required: PrivatBank states directly that an account can be opened remotely, and the documents the bank requests are added through the app or website.
Is an electronic signature required?
For the application in Diia you need Diia.Signature or another QES. PrivatBank signs documents via SmartID in Privat24. For the terms of other banks, see their pages.
How long does it take to open an account?
According to Diia, opening a bank account is processed within one day. PrivatBank cites a period of up to 24 hours, most often about 30 minutes after the application is submitted and signed. Raiffeisen Bank opens accounts from 5:00 to 23:00 on weekdays.
Can I have several accounts?
Banks allow this, with some nuances. PrivatBank writes that the second and subsequent accounts are opened through “Privat24 for Business,” and monobank mentions additional currency accounts on its page. For the online application at Raiffeisen Bank, there must be no other business account at that bank.
When can I make payments from a new account?
After the tax authority registers the account or the period for refusal expires. Then the bank receives a notice or the date of tacit consent arrives, and expenditure transactions begin.
