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Ukrainians who fled war can now get free payment accounts with EU IBAN

Mar 30, 2022

The customer onboarding process is completed through the use of a mobile application, available for both iOS and Android mobile phones

Ukraine

Ukrainians who fled war can now get free payment accounts with EU IBAN. Source: depositphotos.com

Bitsafe has opened its services to Ukrainians who reside in the European Union. This service contains a free basic payment account with a free debit card issued in the name of the displaced person from Ukraine.

Each account is accompanied by a Dutch IBAN, which is capable of sending and receiving funds worldwide.

Bitsafe account holders can engage in SEPA transfers and international wires. The Bitsafe debit card allows ATM withdrawals and can be used to pay for goods and services.

The Bitsafe technology recognizes over 1700 types of global ID documents, including the Ukrainian ID-card and Biometric Passport. The security markings located on these documents are meticulously verified using the mobile phone camera and a biometric face match is verified between the image of the person and the information available on the ID document.

The customer onboarding process takes a few minutes. All applicants will in addition be screened before getting access to Bitsafe’s payment systems.

As a financial institution Bitsafe wants to help Ukrainians who had to leave their homes due to the war between Ukraine and the Russian Federation. Bitsafe’s vision is to lead the world’s transition to financial and online inclusion for everyone. Helping Ukrainian nationals temporarily residing outside of Ukraine fits exactly in this vision.

New account holders are boarded in a few hours, sometimes even in minutes. We have launched a special website, in the Ukrainian language, to cater for the Ukrainians who are residing here in Europe. However, the Bitsafe App and the monetary web interface are both in English. But we know and understand that the majority of Ukrainians have an understanding of basic English. Once there is money in the Bitsafe account, the free debit card allows them to immediately engage in transactions and start buying food, clothing and other necessary products and services which we all deem to be a normal necessity to live and work in the European Unionrn
Leif. K. Waterman, President of Bitsafe

New applicants may visit to apply for an account.

They would need an active email address, a Ukrainian form of ID and a mobile phone. Bitsafe has chosen the .ua top-level domain as it amplifies the Ukrainian nationality. Bitsafe has learned from the .UA top-level domain registry that servers that are running the .ua?domain are currently all located outside of the Ukrainian territory, making these domain services not a target for intruders.

We’ve reported that Genome, an Electronic Money Institution licensed and supervised by the Central Bank of Lithuania, waives its fees for Ukrainian citizens in order to help them open EUR accounts.

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Tags: # EU # Ukraine

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