Ukrainian banks create joint branch network in case of blackout

26 December 2022, 01:17 PM
The building of the National Bank of Ukraine (NBU) in Kyiv (Photo:Прес-центр НБУ)

The building of the National Bank of Ukraine (NBU) in Kyiv (Photo:Прес-центр НБУ)

Ukraine’s largest banks have created a joint network of branches throughout the country In case of long-term power outages, the National Bank of Ukraine (NBU) announced on Dec. 26.

This network encompasses 1,000 branches, uniting 14 banks. The network has been dubbed POWER BANKING.

Branches of this network will work and provide banking services to customers even during a blackout. They are equipped with alternative energy sources and backup communication channels, have enhanced cash collection, and additional staff.

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These branches will allow customers to continue withdrawals from ATMs or cash desks, make payments or transfer funds, exchange currency, and get advice from managers on financial issues. ATM national roaming has also been introduced in POWER BANKING branches, allowing customers to withdraw an increased amount of cash from an ATM of any bank.

Earlier, the state-owned Oshchadbank canceled limits on cash withdrawals from the accounts of other banks.

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