Ukrainian banks create unified network to work in blackout
More than 1,000 bank branches in all regions of Ukraine are additionally equipped to work during a blackout.
This is stated on the website of the National Bank of Ukraine.
What is the problem?
Massive rocket attacks brought many challenges for Ukrainians. Ukraine's banks also suffer because of energy terror — not all of them can function normally and continue their work when the electricity is cut off. But citizens need banking services every day.
What is the solution?
At the initiative of the National Bank, all systemically essential banks joined together to create a joint banking network – POWER BANKING. This is a collaborative network of bank branches throughout Ukraine, which will work and provide banking services to clients even during a critical blackout. Branches of the joint network are equipped with alternative energy sources and backup communication channels and have enhanced cash collection and additional staff.
How does it work?
Today, the POWER BANKING network unites all 14 systemically important banks, the branches of which have become the basis of this network. It involves other participants in the banking market. Currently, more than 1,000 branches in all regions of Ukraine are additionally equipped to work during a blackout (about 80% of them are branches of systemically important banks).
In blackout conditions, a specific list of urgent banking services will be available to all customers in POWER BANKING branches, namely:
- receiving cash (at ATMs or the cash desk);
- payments, money transfers (at the cash desk or self-service terminals);
- currency exchange (if money is available at the cash desk);
- consulting managers on financial issues.
In addition, ATM national roaming has been introduced in the POWER BANKING network branches. Its purpose is to allow Ukrainians to withdraw an increased amount of cash from an ATM of any network bank, sufficient to meet current needs and build up a certain reserve.
The map of POWER BANKING branches is regularly updated.
