How the changes in PrivatBank strategy will affect customers?

Within the framework of implementing the new strategy of development, AS “PrivatBank” will make changes in the range of offered services as from 1 January next year. In accordance with the new strategy of development of the Bank, the Bank will continue provision of lending and deposit services to the customers; in its turn, as from 1 February 2021, the operation of payment cards issued by the Bank, as well as other daily services, will be discontinued.

Payment cards

From 1 October 2020, the Bank will stop offering conclusion of new payment card agreements to customers.

From 31 January 2021, the servicing of payment cards will be discontinued.

 From 31 January 2021, issuing, renewal or servicing of payment cards (debit cards / credit cards) will be discontinued.

All payment cards will be closed from 1 February 2021, and the Customers will be unable to:

  • make online purchase,
  • pay with payment cards to sellers/service providers,
  • withdraw cash from ATMs.

Payment card credit limit

As for the Customers who have been granted credit limit by the Bank and who have used it, we ask you by 31 January 2021:

  • to ensure early repayment of the amount of the used credit limit in full and of the calculated interest for the use of credit limit; or
  • to apply for a consumer loan at the Bank free of charge for the credit limit repayment; or
  • to agree with the Bank in writing on other type and term of fulfilment of credit obligations towards the Bank.

Regular E-invoice payment and Regular payments

From 1 October 2020, the Bank stops concluding new Regular E-invoice payment and Regular payments agreement.

The agreements concluded before 30 September 2020 (inclusive) will be serviced through 31 December 2020

 

From 31 December 2020, the Agreements on regular E-invoice payments and the Agreements on regular payments will be terminated.

We ask you to conclude new agreements with another credit institution in due time in order to ensure timely payment of your invoices in the future.

From 1 January 2021, the Bank will discontinue provision of Regular payment and Regular E-invoice payment services to own customers.

Deposits

From 1 October 2020, the Bank will stop offering conclusion of new Deposit Agreements “Savings Account” to own customers.

From 31 January 2021, the “Savings Account” deposit agreements will be terminated at the initiative of the Bank.

The deposit amount will be paid in full to the Customers’ settlement/card accounts with the Bank in accordance with the provisions of the Deposit contract.

We offer you to conclude new deposit agreement “Standard” (with the possibility of unlimited replenishment of the deposit) with new provisions and effective deposit interest rates.

Currency exchange transactions

From 1 January 2021, the Bank will discontinue to provide such payment services to its customers.

Cash transactions

From 1 January 2021, the Bank will discontinue to provide the such payment services to its customers.

Safe deposit boxes

From 20 October 2020, the Bank will stop offering conclusion of new Safe deposit boxes agreements to customers.

Documentary collection

From 1 January 2020, the Bank will stop to provide  letter of credit and documentary collection services to its clients.

Changes in price lists as from 1 October 2020

Questions and answers