Opening Accounts for Individuals

1. What is the amount of the minimum balance that needs to be available on a current hryvnia/foreign currency account?
2. In what currencies are current accounts opened for individuals in Pravex-Bank PJSCCB?
3. What transfer amounts can be received from abroad on a current foreign currency account?
4. What transfer amount can I make when leaving for permanent residency abroad?
5. How long will it take to make a transfer to a current account of an individual from abroad?
6. What amount of cash funds can be taken abroad from Ukraine without executing a currency export certificate?

•What is the amount of the minimum balance that needs to be available on a current hryvnia/foreign currency account?

There is no minimum balance requirement for current accounts of individuals. In the absence of turnovers and account balance during the year, such account will be automatically closed.

•In what currencies are current accounts opened for individuals in Pravex-Bank PJSCCB?

Current accounts of individuals are opened in our Bank in hryvnias, US dollars, Euros, pounds sterling, Swiss francs and Russian rubles.

•What transfer amounts can be received from abroad on a current foreign currency account?

The transfer amounts that you can receive on your current foreign currency account are not limited.

•What transfer amount can I make when leaving for permanent residency abroad?

When leaving for permanent residency abroad, the transfer amount is not limited. To make a transfer, you have to present the following to the Bank: a foreign passport with a mark indicating departure for permanent residency, specifying the country of departure, and residency certificate from a housing office. When leaving for permanent residency, you can transfer funds to your own account opened abroad.

•How long will it take to make a transfer to a current account of an individual from abroad?

It will take you 3-5 days.

•What amount of cash funds can be taken abroad from Ukraine without executing a currency export certificate?

Resolution No. 148 of the Management Board of the NBU as of May 5, 2008, came into effect beginning from July 27, 2008, approving the Instruction on the Transfer of Cash Funds and Bank Metals over the Customs Border of Ukraine, pursuant to which any individual (RESIDENT/NON-RESIDENT) shall be entitled to: — import to the territory of Ukraine and export from the territory of Ukraine cash funds in any amount not exceeding the equivalent of EUR 10,000 without a written declaration to a customs authority; — import/export any amount exceeding the equivalent of EUR 10,000, subject to a written declaration to a customs authority in full and given documents confirming the withdrawal of the cash funds from accounts opened with banks (financial institutions), solely for the amount exceeding the equivalent of EUR 10,000. Proceeding from the foregoing, NO certificates for currency export are EXECUTED beginning from July 27, 2008!!!!!!!

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