Privatbank explained how cards work abroad/Channel 24 Collage
In the context of a full-scale war in Ukraine, trust in the banking system is at a fairly high level. However, the necessary restrictions also work.
Dokiya Kuzmenko, a communications specialist at Privatbank in the regions, told Channel 24 about this. She explained that the work of bank cards abroad is regulated.
Restriction on withdrawals
She noted that the cash foreign exchange market during martial law works in limited mode. Banks can sell foreign currency through cash desks only in the volume in which they bought it from the population.
Restrictions are set on cards for all banks, this is in accordance with the regulations of the NBU, said Dokiya Kuzmenko.
“As of today, a client abroad can withdraw 50,000 hryvnia or the equivalent per month from hryvnia accounts. He can withdraw 100,000 hryvnia or the equivalent per day from foreign currency accounts,” Privatbank's communications specialist explained in the regions.
Banks in the early days of the war
At the same time, she said that the way the banking system functions in the face of a full-scale war commands great respect from the global financial community.
On the first day of the war, customers had a reaction to withdraw cash – accordingly, banks were not ready for this situation. Cash was withdrawn from all ATMs in just two hours, then they were empty, – said Dokiya Kuzmenko.
“This is a panic, a misunderstanding of the situation. However, thanks to the balanced steps of both the National Bank of Ukraine and the entire banking community, we managed to master this situation. And the very next day, all ATMs were filled with money,” the expert added.
Communications of Privatbank in the regions noted that at present the bank branches and the mobile application are working, they also serve individuals and legal entities. The work of PrivatBank continues, of course, under martial law.
Restriction of the National Bank: in short
- From May 21, the National Bank of Ukraine abolished the restriction of the rate at which banks sell cash currency. Prior to this, the corresponding rate could not deviate from the official rate by more than 10%.
- At the same time, restrictions on the rate at which banks write off money when paying with hryvnia cards abroad have also been cancelled.
- According to the National Bank, such actions should improve the working conditions of banks that sell foreign currency. At the same time, it will reduce the number of illegal transactions.
Dokia Kuzmenko on the work of banks in war: watch the video
