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SWIFT transfers without additional fees from "PrivatBank" are now operational in the Czech Republic

05 Dec, 2023
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SWIFT transfers without additional fees from "PrivatBank" are now operational in the Czech Republic

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The State-owned "PrivatBank" continues to expand its range of services for Ukrainians currently abroad. The regulator's press service announced the launch of SWIFT transfers in Czech crowns without additional fees.

Czech Republic is one of the leading countries in terms of the number of Ukrainian citizens using the services of "PrivatBank" and is among the top three EU countries where the financial institution has fulfilled the most orders for the delivery of physical cards.

"For the convenience of clients, many of whom have found themselves in the Czech Republic due to the war and are assisting their relatives, loved ones, and the Armed Forces of Ukraine, "PrivatBank" has opened a new correspondent account in Citibank N.A. in Czech crowns," stated the financial institution.

According to Dmytro Musiyenko, a member of the PrivatBank board responsible for retail business, the bank is developing payment "bridges" with European banks to facilitate the expansion of the geography of partners and activate client settlements.

Thanks to the new correspondent account for SWIFT transfers, there will be no additional fees for individual transactions. Customers can generate the details for such a payment directly in the "Privat24" application. To do this, one needs to log in to the program and follow this path: "Services – Transfers – SWIFT – Details." Currency transfers will be credited to hryvnia cards without fees.

"The main advantages of receiving SWIFT transfers through PrivatBank include the absence of limits on the amount, the possibility of online tracking of transfers, and a dedicated support line for SWIFT recipients. According to the bank, money usually arrives in accounts within 24 hours, with 40% of payments credited to the recipient within 5 minutes," added the financial institution.

The Odessa Journal

The Odessa Journal

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