Ukrainian pensioners currently staying abroad must consider bank fees and established limits when withdrawing cash from PrivatBank cards. The financial institution has implemented several rules to optimize costs when receiving funds from foreign ATMs. This was reported by Socportal citing PrivatBank, according to the portal PromPolitInform.
Users of the “Card for payouts” with a hryvnia account face a standard 2% PrivatBank commission when withdrawing cash outside of Ukraine. Cardholders with “Privat Pro” or “Spilna Pro” subscriptions may be eligible for discounted rates of 1.8%. Experts advise checking current service terms through the Privat24 mobile application before using the card in another country.
Additional fees and conversion
In addition to the issuing bank’s commissions, foreign ATM operators often impose their own surcharges. Information about such deductions must be verified directly on the device screen before confirming the transaction. If a user does not agree with the terms of a specific ATM, they have the option to cancel the operation and select another cash withdrawal point.
An important aspect is the choice of currency when making payments. Bank instructions recommend carrying out operations in the currency of the country of stay, avoiding automatic conversion that an ATM might offer. Making this choice independently helps to avoid unfavorable internal exchange rates set by ATM networks, as the final debiting of funds will occur according to the rules of the payment system and the bank.
Limits on currency withdrawal
Restrictions established by NBU Resolution No. 18 apply to foreign cash withdrawals from hryvnia cards. A limit of 12,500 hryvnias in equivalent is set for every seven calendar days. This rule applies to the total volume of operations across a client’s accounts within the relevant financial institution.
It is worth noting that cash withdrawal limits and limits on paying for goods in retail networks are separate categories of rules. Personal settings for available amounts can be adjusted via card settings in the Privat24 system. When planning expenses, it is important to account for the total cost of the operation, which includes the withdrawal amount, bank commission, and any potential fee from the terminal owner.
The process of cashless payment for goods in stores or online usually does not entail a separate commission, but currency conversion risks remain relevant. Financial experts strongly recommend keeping all receipts and verifying actual debit amounts through the banking application to monitor account balances and the accuracy of calculations.
Illustrative photo: Ministry of Finance of India / GODL-India
