Privatbank said about the new checks

If the client ignores the request for verification, the bank may terminate cooperation with him.

If Ukrainians use the card abroad, PrivatBank may need to confirm the client’s identity. This was announced on Saturday, December 3, at PrivatBank in response to a client’s request at a special forum of the Ministry of Finance.

To make sure the cardholder is using it, the bank may ask you to send your photo.

They also noted that if someone leaves a request for a photo without attention, the bank has the right to terminate cooperation with the client.

Specifically, the bank’s response follows a complaint from a client who said Privatbank blocked a disabled child’s Junior card for withdrawing money abroad.

In turn, the financial institution explained that the card can be blocked only if the client refuses to perform a photo check.

“This was done to protect Ukrainians from possible fraud and illegal use of a bank account. If the client does not pass the photo check, and the withdrawal of money abroad continues from the card, may decide the bank to terminate the business relationship,” the bank added. PrivatBank.

They noted that the client will be evaluated if:

• the volume of cash transactions in the accounts does not correspond to the usual volume for such a client;

• continues to undergo cash transactions for large, rounded amounts;

• the client regularly exchanges small banknotes for larger ones.

As a reminder, PrivatBank has set similar limits for cash withdrawals in its network of ATMs from cards of PrivatBank and other Ukrainian banks at the level of UAH 20,000.

Earlier it was reported that the share of the euro in the foreign exchange market exceeded 40%. The NBU said that after the start of the war, the structure of exports changed and the demand for cash euros from the population increased.

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