The National Bank of Ukraine has not set restrictions on issuing foreign currency cards.
Such a card helps Ukrainians to save and protect their savings from inflation and greatly facilitates payment for goods and services abroad during travel and business trips.
How to use a currency card for storing funds and making payments more easily while in Ukraine and abroad? Experts from Raiffeisen Bank helped us fix this issue. Let’s start by accepting the payment method.
How to get a currency card and why it’s profitable
You can order a currency card for payments online on the bank’s website using a computer and the Diya mobile application. Unlike hryvnia debit cards, which can be exclusively virtual, foreign currency cards are issued in a plastic carrier at the branch. Card production time – 10 working days from the date of ordering on the site.
Usually, a currency card is issued to keep dollars or euros here and make purchases abroad, including in foreign online stores. In addition, Ukrainians can transfer money from their currency cards to foreign payment cards without restrictions, including replenishment of electronic wallets, brokerage or forex accounts.
Having a card in euros or dollars, you can avoid double conversion when buying goods and paying for services abroad, if the currency of the country and the account match. Also, for currency cards, there are no restrictions on withdrawing money through ATMs in other countries, unlike hryvnia cards.
What transfers can be received on a currency card
Here is a list of possible transfers on currency cards in Ukraine:
● cash replenishment through the bank’s cash desk;
● crediting proceeds from own deposits;
● personal transfers from abroad, including using international transfer systems, from card to card or via SWIFT.
IMPORTANT: an individual entrepreneur cannot receive payments from foreign customers on a currency card for individuals. To do this, you need to open a current account for sole ownership in foreign currency and legally receive payments with the subsequent payment of taxes.
A foreign currency card cannot be used to receive payments in hryvnia. We are talking about the payment of wages, pensions, unemployment benefits and other social benefits from the state. For such purposes, a debit card was opened in hryvnia.
But you can pay with a dollar or euro card in Ukraine. The purchase price is converted from currency to hryvnia and is immediately deducted from the account.
Favorable conditions for using the currency card
Currency cards issued by a Ukrainian bank have favorable terms of service.
In particular, free account opening, cash and non-cash transfer of funds, connection to the Raiffeisen Online Internet banking system. There are also no monthly account maintenance fees.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.