Ukrainians advised to close bank accounts
Economists recommend that customers withdraw their money from Ukrainian banks while they still can. Ukrainian experts are advising customers to withdraw their money from national banks because of the country’s unstable financial system, despite the fact that this could cause even bigger problems.
Ukrainian banks have no money. Since 2008, they have been financing bank accounts with interest paid on loans they’ve issued. Before the Maidan protests in Kyiv, we would have returned deposits upon maturity without any problems. What are the depositors to do now? Anyone who wants take their money back from banks should go ahead and do it.
But it is very likely that you won’t get it back anyway,” said Oleksandr Ohrymenko, president of the Ukrainian Analytical Center. Rostislav Kravets, chairman of the standing arbitration court affiliated with Attorei, a corporate rights protection association, also advises customers to withdraw their savings from banks.
Currently I would recommend withdrawing money from banks. Withdraw everything you can. If they can only give it to you in installments, take it in installments, and don’t renew accounts,” Kravets explained.