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Conditions of the Deposit contracts for private clients will be amended

 This is to inform that during the period of time as from 14 April 2020 up until 1 July 2020, AS “PrivatBank” (the Bank) is transferring to a new IT customer service system.

The objective of the transition is to ensure the unified IT system, improving functionality and processes for processing and supporting financial transactions.

After transition to the new IT system, new Deposit pay-out arrangements are coming into effect.

  • Hereinafter, the Deposit Amount shall become available to the Customer on the Deposit maturity date; so far, the Deposit Amount has been available to the Customer on the next business day of the Bank after the Deposit maturity date.

If a Customer notice on early termination of Deposit contract is received, the Deposit contract will be terminated according to Part 3 “Deposit Regulations” of the General Regulations on Transactions of the Bank.

A different interest calculation method will be applied to the “Savings Account” deposit.
Further on, the accrued deposit interest as from EUR 0.05 will be transferred to the Savings Account. Up to now, the calculated deposit interest was added to the total Deposit amount at the end of each day.

The Bank will inform you separately about the date of implementation of the new IT system.

If the Bank will not receive a notification on early termination of Deposit contract up until transition to the new IT system, it will be assumed that you agree to the above-mentioned amendments to the service; the Deposit contract between you and the Bank will remain effective on new terms and conditions.

If you provide the Bank with a notice on early termination of Deposit contract up until transition to the new IT system, you will be paid the deposit amount and the deposit interest calculated until the day of Deposit contract termination, not applying the penalty for early termination of the Deposit contract.

For additional information please call the Bank information line 8515 (for calls from abroad +37167041300) or visit any of the Bank branches.

Yours AS “PrivatBank”

 

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