PrivatBank and Sens Bank launched paid subscriptions with cashbacks and discounts

PrivatBank and Sens Bank have started selling monthly packages to clients that include cashbacks, discounts, and digital services. The offers range from 125 to 600 hryvnias, and PrivatBank aims to attract 3 million users within six months. This is reported by Forbes Ukraine.

PrivatBank subscriptions cost up to 297 hryvnias per month

PrivatBank has launched beta testing of three packages. The basic subscription is free and waives fees for transfers between participant cards and for topping up cards for payouts.

«Privat PRO» costs 129 hryvnias per month, with the first month provided for free. The «Joint PRO» subscription is designed for five people and costs 297 hryvnias. Both packages include cashbacks and discounts:

• up to 200 UAH for payments of digital services;

• up to 100 UAH for postal shipments;

• up to 3 UAH per liter of fuel at WOG;

• up to 200 UAH on purchases at «Silpo»;

• five teleconsultations with a doctor per month.

The total savings can reach 1000 hryvnias per month. Paid packages also offer a lower cost for using credit limits and up to 7% annual interest on balances in «Envelopes».

The expansion of digital products enhances competition among banks. In the ranking of banks in Ukraine, PrivatBank maintains an advantage due to its large client base and the popularity of online services, while Sens Bank ranks third.

Sens Bank offers a service builder for 125–600 hryvnias

Sens Bank does not sell a package of banking benefits but rather a selection of third-party digital subscriptions. Clients create their own mix of services for entertainment, education, security, health, and work.

The Small package costs 125 hryvnias and includes two services. The Medium package for 350 hryvnias includes four subscriptions, while the Full package for 600 hryvnias includes six. The list includes Bolt Plus, Sweet TV, Librarius Premium, NV Premium, VPN Unlimited, and other products.

Discounts on fuel at the «Ukrnafta» gas stations are available in all packages. According to the bank, packaged subscriptions can cost up to 80% less than purchasing each service individually.

The models of the two banks are significantly different. PrivatBank creates an ecosystem around the card, daily expenses, and its own cashback program. Sens Bank acts as an intermediary, bringing together third-party services in one application.

«In creating the subscription, we relied on statistics: 91% of active PrivatBank clients purchase products, every second client spends money on healthcare,» explained board member Dmytro Musienko.

PrivatBank expects to attract 3 million users within six months, although an independent estimate suggests about 1.8 million. Sens Bank has set a more modest goal of 100 thousand clients. For banks, subscriptions mean regular income and more frequent use of applications, which are already introducing such products as savings in Privat24.