Expatriate Life > Personal Banking and Finances

PrivatBank and Western Union Teamed up


PrivatBank and Western Union launch a new account transfer service in Ukraine
DECEMBER 13, 2019, 2:32 PM
PrivatBank is the first in Ukraine in partnership with Western Union, one of the world leaders in the field of payment services, launches a new service Cash on account - transfers of funds to bank accounts in Ukraine. The service will allow you to receive international money transfers without visiting a bank or using remote self-service channels - directly to a bank card issued by any Ukrainian bank or a bank account opened in Ukraine.
Transfers from anywhere in the world can now send Western Union money transfers directly to a payee's current account in a IBAN Ukrainian bank or to a card issued by any Western Union partner bank in Ukraine.
"The launch of a fundraising service that is fundamentally new to many countries in the world is the result of a partnership with Western Union, one of the world's most innovative money transfer systems," says Maria Strashko, head of PrivatBank's money transfer business. "Thanks to the use of advanced technologies, we have made it easy and convenient for Ukrainians to receive international transfers without additional efforts on the part of the recipient, which allows PrivatBank to remain the national leader in this market."
As noted in the bank, today the money transfer service "Cash on account" works in Ukraine in a test mode, and from the beginning of January 2020 the opportunity to receive money from abroad through Western Union directly on a card or account will be available to all Ukrainians.
Recall that in early 2016, PrivatBank and Western Union launched the first online money transfer service in Ukraine, whereby Ukrainians were able to transfer funds by credit or debit card at www.WesternUnion.ua



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