Which card is better to transfer pension
Depending on the length of service, Ukrainians retire at 60, 63, and 65 years. By law, they are entitled to a regular lifelong social payment from the Pension Fund of Ukraine – a pension. Previously, pensioners received it in cash exclusively through post offices, today 90% of elderly people prefer convenient bank cards.
In this article, we will explain how to apply for a pension card online in 10 minutes without visiting the branch.
Which bank is better to receive pension in Ukraine
Not all financial institutions work with the Pension Fund. In 2024, out of 63 Ukrainian banks, only 46 received permission from the Cabinet to service pensioners. This includes Raiffeisen Bank, which is among the top three leaders in user ratings.
Here, the pension card can be chosen from four debit products – Raifkartka + Visa Gold, Raifkartka Visa Reward, Visa Fishka, ATB from Raif.
Each card, in addition to the standard set of payment mechanisms (crediting and storing money, paying for goods and services, transferring funds from card to card, cash withdrawal), is a multifunctional tool that allows not only to receive and spend but also to save and even earn passively.
How to open a pension card at Raif: step by step
The algorithm described below is suitable if you are transferring your pension from the post office or another bank to Raiffeisen.
You can open a card account at Raif from a laptop (by submitting an application on the official website) or through the MyRaif application. Make sure you are registered on the Diia state services portal, and that copies of your ID card or passport, tax ID, and digital signature are uploaded in your cabinet.
Simultaneously with opening a Raif card, submit an application to close the current account where the Pension Fund is currently crediting funds. It is better to do this after the current payment so that the next one comes to the new account without delay.
If you want to open a card at Raif from your smartphone, first download and install the free MyRaif app from the App Store (for iPhones) or Google Play (for Android phones). Then simply follow the prompts that appear on the screen. In 5 minutes, everything will be ready. If you leave a request on the website, wait for a call from the operator.
After opening the account, you need to take the last important step – notify the Pension Fund about the change of details. You can do this yourself through the Electronic Services Portal or ask Raif’s employees to submit your application for you.
Virtual or plastic?
After opening an account in MyRaif, a virtual card will be displayed – an electronic equivalent of the plastic one. It can be used immediately, while the physical equivalent must be ordered separately and you will need to wait 10 days for it to be manufactured. This will not affect the timing of receiving the pension since the money will arrive in the opened account.
If your smartphone supports NFC, the virtual card can be linked to mobile payment systems Apple Pay or Google Pay and used in physical stores. Moreover, it is perfect for paying utilities and online shopping.
