PrivatBank freezes funds in corporate accounts as of December 19 in ”temporary measure”

PJSC PrivatBank has frozen funds in corporate accounts as of December 19, according to a message posted on ”Privat24 for business” website.

The report says that debit transactions from the accounts and cards are allowed within the amount exceeding the balance on these accounts as of the morning of December 19, 2016, and all the credit limits in accounts, overdrafts, limits of guaranteed payments and business installment are zeroed or reduced to the level of debt (if available).

At the same time, according to the message, all receipt transactions are serviced without restrictions.

”For example, the account balance as of the morning of December 19, 2016 was UAH 100,000. This amount becomes the `minimum balance.` From that moment, the account received incoming payments (from counterparties, compensation for acquiring, revenue, etc.) totaling UAH 50,000, and the account balance is now UAH 150,000. Accordingly, only this UAH 50,000 can be used for payments or spent using the card,” the bank explains.

”Such a corporate customer service mode is temporary. All decisions about its future change will be made by Mr. Shlapak as soon as he takes up his duties as Chairman of the Board,” the report says.

As UNIAN reported earlier, the Ukrainian Government at its meeting on Sunday supported the proposal of the NBU and the Council for Financial Stability to transfer PJSC PrivatBank to 100% state ownership.

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