The decision was due to the fact that banks-owners of ATMs in Ukraine from September 1 more than doubled the interbank reimbursement rate for cash withdrawals by customers of other banks.
Ukrainian Monobank will increase the commission for cash withdrawal from 0.5% to 0.9% from September 1. This was announced by the institution’s co-founder Oleg Gorokhovsky on Telegram on Wednesday, August 17.
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“We, unfortunately, are forced to raise the rate for withdrawing our own funds from our cards from 0.5% to 0.9% from September 1,” he wrote.
According to Gorokhovsky, the decision to raise the tariff is due to the fact that banks that own ATMs in Ukraine from September 1 more than doubled the interbank payment rate for cash withdrawals of customers of other banks.
If Monobank left the commission at 0.5%, it would not cover his costs. At the same time, the tariff for withdrawing credit funds will remain unchanged, Gorokhovsky assured.
“I apologize that we were forced to take such a step,” he added.
Earlier it was reported that Monobank stopped serving clients from the Russian Federation and Belarus. Also, this decision closed Crimea and the so-called “republic” of Donbass.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.