PrivatBank explained when it can refuse service to a client
PrivatBank clarified in which cases it may cease cooperation with clients. This was reported by the bank's press service.
Ukrainian banks, including PrivatBank, have the right to independently terminate cooperation with clients without their agreement. Usually, this occurs when people do not use banking services for a long time. The bank can terminate the contract on the basis of several key legislative acts - the Civil Code and the law on combating money laundering and the financing of terrorism. This practice aims to maintain financial security and stability in the country.
PrivatBank: in which cases cooperation with clients may be terminated
After the termination of the contract, the client retains the ability to withdraw their money by transferring it to another bank. According to information on PrivatBank's official website, for this, it is necessary to contact any bank branch, provide bank details for an account in another institution, present a passport or other identification document, show documents that confirm the right to the funds, provide a tax number, and write a relevant application for the transfer of money.
Previously, PrivatBank provided clients with instructions for protection against fraud.
Summary:
PrivatBank clarified the conditions under which it may terminate cooperation with clients, reminding them of the need for active use of banking services. Clients whose contracts may be terminated can freely withdraw their money and transfer it to another bank.