PrivatBank clients are required to update their personal data, otherwise they risk losing access to their bank accounts and cards. This procedure is mandatory even for those whose data has not changed. The financial institution explains that the update is necessary under legislation aimed at preventing money laundering and financing of terrorism, especially in times of martial law.
Data update procedure in 'Privat24'
'The data update period for each client is determined individually based on a combination of factors outlined in NBU Resolution No. 65 dated May 20, 2020, but not less than once every five years'
To confirm and update their data, PrivatBank clients need to follow several steps in the application:
- Open the section 'Update Information';
- Confirm the absence of ties with aggressor states (Russia or Belarus);
- Enter the card PIN;
- Provide or verify personal data in the questionnaire;
- Add a document through the 'Diya' app or by manually photographing it;
- Indicate the registration or actual residence address;
- Specify social status.
After submitting the data, a message will appear in the application saying 'Documents received for verification', after which the client will be prompted to sign the documents with an electronic signature.
The importance of regular data updates
PrivatBank emphasizes that updating information helps confirm the validity of clients' documents and ensure the legality of financial transactions. This is an important component of international standards in the fight against financial crimes.
PrivatBank clients must update their personal data in order to comply with the law and avoid potential problems with access to their financial assets. The update procedure in 'Privat24' is quite simple and allows confirming the validity of the information needed for conducting financial transactions.