Ukrainians massively make mistakes with money during the war – how not to step on a rake

The war showed that some people do not know how to manage their money at all and easily fall for the hook of swindlers.

“Today” talked with a representative of the European Bank for Reconstruction and Development in Ukraine Anton Usov and are ready to tell you what are the main mistakes Ukrainians make in handling money during the war.

Currency regulation

According to the expert, many people absolutely do not pay attention to requirements of the National Bank regarding the currency.

In the first few days of the war, a huge number of people tried to take their foreign currency savings abroad, and the problem has remained to this day.

Take foreign currency abroad more than 10 thousand euros in equivalent it is impossible, it is necessary to go through a special procedure for declaring these incomes and many others.

“This money is stuck, especially when it comes to countries and banks that have fallen under sanctions,” the expert says about those who tried to take money out in a non-cash form.

Trust in banks

You also need to cooperate with your bank very carefully; even during the pandemic, the online platforms of large institutions began to work well.

Anton Usov notes that during the war you need to actively use these platforms, as well as carefully monitor all changes in the work of your bank so as not to miss anything important.

For example, the bank may cancel or enter a new limit for some operation or again start accruing interest.

cash

Some Ukrainians panic-strickenly rushed to ATMs for cash, because they decided that since there was a war, paper money was indispensable.

“I can say with confidence that in most of the territory of Ukraine you can safely pay with a card in stores. That is, this panic is not needed and you do not need to convert all your savings into cash,” says Usov.

The economist also drew attention to the fact that even in such a difficult time in Ukraine scammers have become more active.

Banks warn to check all fundraising companies and transfer aid to charities only through official channels.

money abroad

You can create a very big problem for yourself if you go abroad with cash in hryvnia.

According to the expert, in most countries the hryvnia is not a freely convertible currency, and you cannot do anything with this money.

The exception is Poland, which is more loyal to Ukrainians and makes it possible to exchange hryvnias for zlotys.

If your card belongs to one of the largest international payment systems Visa or Mastercardyou will have enough cards.

“It is reliable, and you use this card abroad fully, since these systems are recognized all over the world. You will pay for purchases, a hotel, and so on,” the expert says.

The only thing you need to pay attention to when traveling abroad with such a card is checking limits during the day in another country. This information must be clarified on the website or the bank’s hotline.

“Today” previously wrote how to withdraw cash without a commission in Germany and exchange hryvnia for zloty in Poland.