MFO is the everyday name in Ukraine for a non-bank company that issues small short-term loans, most often online. The term in the law is a financial company holding the relevant licence. “MFO” was also the name of the bank code.
In plain words
The Ukrainian law on financial services and financial companies calls such institutions financial companies: they operate under a licence issued by the regulator. Before you borrow, check the company in the regulator’s public registers and compare the effective annual interest rate, not just the “percent per day”. A separate meaning: in banking details MFO is the 6-digit bank code; the NBU explains that the existing bank codes (MFO) count as NBU ID codes, and in an IBAN they follow the check digits.
Sources
- Law of Ukraine “On Financial Services and Financial Companies” No. 1953-IX of 14 December 2021 — Art. 1 (items 47, 64, 65) (version of 30 July 2026). Checked 14.10.2026.
- National Bank of Ukraine: IBAN — “IBAN” section (NBU ID code, formerly MFO). Checked 14.10.2026.
Example. An advertisement promises a “loan in 5 minutes”. You open the regulator’s register, confirm that the company holds a licence and compare the effective annual rate with bank offers before you sign.