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The Russian-Ukrainian conflict has forced many Ukrainian citizens to flee their country. Belgian banks immediately assisted Ukrainian refugees by offering them the basic banking service and the possibility of depositing cash Hryvnias (UAH) in their accounts at Belgian banks from 1 June 2022.
The latter arrangement will end soon: from Tuesday 15 November 2022, Ukrainian refugees will no longer be able to exchange their Hryvnias for euros at the counters of bank branches of participating banks. This follows a decision by Ukraine's central bank.
Since the beginning of the conflict, Belgian banks have offered Ukrainian refugees the basic banking service. This service allows them to open a current account with a debit card to carry out basic transactions. Refugees also have the option of opening a regular bank account.
With a bank account, a refugee can receive wages or social benefits, withdraw money from ATMs, make payments in shops, buy train and metro tickets, etc. This makes it easier to participate in society.
Ukrainian refugees still have until Monday 14 November to deposit cash Hryvnias into their accounts through the bank branches of participating banks. This is possible at Belfius, Beobank, BNP Paribas Fortis, ING, KBC, CBC and KBC Brussels. This action is now stopped because the Ukrainian central bank judges that Hryvnia holders have now had sufficient time for the exchange. It is therefore not further renewing its agreements with the various eurozone central banks.
As a reminder: