The National Bank of Ukraine has established a common network of bank branches across the country that will operate and provide customer services even during a critical blackout.
With Russia continual attempts to destroy Ukraine's power grid and energy facilities, many people are forced to endure power cuts throughout the day – at times for several days. In blackout conditions, Ukrainians face non-working banks and the issue of withdrawing funds through ATMs.
At the initiative of the Central Bank of Ukraine, all systemically important banks have joined together to create a common banking network – Power Banking.
The Power Banking network connects 14 systemically important banks – the network's backbone – and attracts other participants in the banking market. The branches of the common network are provided with alternative energy sources, redundant communication channels, enhanced cash collection, and additional staff.
Currently, over 1,000 branches in all regions of Ukraine are already additionally equipped to operate during a blackout (about 80% are branches of systemically important banks).
During the blackout, a particular list of emergency banking services will be available to all customers in Power Banking branches, namely:
– cash withdrawal (at ATMs or the cash desk);
– payments, transfer of funds (at the cash desk or self-service terminals);
– currency exchange (if cash currency is available);
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– consult with managers on financial issues.
The map of the Power Banking network branches is regularly updated on the National Bank of Ukraine’s website.
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