Banking in Ukraine

This has probably been covered in many other threads here but please excuse a newbie…

We're retired and moving to Ukraine shortly. I'm planning to open a US$ term deposit probably with CreditWest or ProCredit. Does this sound like a sensible plan or is the banking system still a bit shaky?

Your comments will be greatly appreciated.

Thanks  Jaycey

Hello Jaycey,

A warm welcome on Expat.com ;)

The members on the forum will surely help you out.


Thank you,
Pravin.

Dear Jaycey,

since you mentioned about banks, can I ask your help? I am a Filipino living in the United States.  I  just would like to inquire  if there is a Pumb Bank located at 9 Lenina St. in Kiev.  I was asked to  open an account in that bank and asked to pay for taxes before the amount is released.  Am not really sure if there is a bank in that address. Please help me verify the authenticity of the bank.  Thank you.  Please email me at [email protected].  Thank you.

Very shaky, just keep your money with you or buy an apatment and give it for a rent. That would save your money and make profit.

Be very careful about Ukrainian Banks.  They are not stable right now.  They do not make loans, but take deposits.  If you are to bank in Ukraine, pick a foreign bank.  If you need money to live on, a family member can send you money through a moneygram.  Better to keep your money where it is at and have it sent to you via moneygram.  Wish you all the best.

Any country where there is a war, a power struggle, and lots of international messing about is likely to have potentially dodgy banks.
Take care.

Right now bank system is not stable, so it`s really better keep your money at home. Or if needed very much, choose foreigh financial establishment that is a memeber of deposir guarantee fund