PrivatBank review

The universal card carries a monthly fee of UAH 0, level with the €0 median across the site, and currency conversion runs at 0% against a 0.5% median. Cash machine withdrawals come with an allowance of UAH 0, so day to day use adds nothing.

PrivatBank is licensed by the National Bank of Ukraine, and the licence is listed as 22 (dated 05.10.2011). The bank has been running since 1992, is headquartered in Ukraine, and trades as Joint Stock Commercial Bank PRIVATBANK (AT KB «PRIVATBANK») under that licence.

The minimum deposit is UAH 0. A balance can be drawn down whenever you like and whatever stays behind keeps earning, with interest paid out each month. The contract runs for a long term, so there is no lock-in to work around.

It is an easy access account with a headline rate of 5%, and the rate type is variable. Because the rate is variable rather than fixed, the figure on offer can move, and the balance stays spendable while it earns.

The bank names business, freelancer and student among the people it serves, which covers business owners and freelancers as well as students, teens and travellers. A joint account is offered, so shared household money can sit in the same place, and there is no monthly charge to maintain it.

You can hold 6 currencies in total, with envelopes offered in hryvnias, US dollars or euro. Local account details include iban, so payments can arrive without being converted, and any conversion is charged at 0%.

The headline rate is 5% and the rate type is variable, against a 3% median across the brands listed here and a 3.25% median for everyday accounts. A variable rate can rise or fall, so the figure now is not the figure for the whole term.

Support runs on phone, email and help centre, which covers phone, email and a help centre for questions about the account or the card. The head office is in Ukraine, and the audience of business, freelancer and student shows which groups the account is designed around.