Tariff revolution in Privat24: international transfers became more affordable
7 August 2025 22:58
PrivatBank has reduced tariffs for all international P2P transfers through its mobile financial application Privat24 to a single level of 1% in any direction. The innovation will be in effect until the end of 2025 and should make the transfer of funds between Ukraine and the world more accessible and transparent, "Komersant Ukrainian" reports citing the PrivatBank_insider Telegram channel.
Until recently, the rates for international transfers in Privat24 differed depending on the direction. For transfers from foreign banks to PrivatBank cards, the fee was 1.5%, while for the opposite direction it was 2%, but with a fixed minimum of UAH 50.
In August 2025, the bank announced the unification of tariffs. From now on, international card-to-card transfers, regardless of whether it is an incoming or outgoing payment, cost 1% of the transaction amount.
We have made international transfers more convenient and cheaper. The new 1% flat rate applies to both incoming funds in Ukraine and transfers abroad. This is important for millions of Ukrainians who live or work abroad,” PrivatBank said in an official release.
What transfers are covered by the new tariff
The new tariff applies to all international P2P transfers via the Privat24 mobile app or web version. This category includes transfers from foreign bank cards to PrivatBank cards and transfers from PrivatBank cards to foreign cards.
Why it is important for the Ukrainian economy
According to the NBU, in 2024, the volume of private remittances to Ukraine amounted to more than USD 13 billion. This is one of the key stabilizing factors for the balance of payments, especially in a war economy. Most of these funds come from Ukrainians working abroad – in Europe, North America, and the Middle East.
Financial analysts emphasize that every simplification of access to international financial flows is a contribution to supporting households, the foreign exchange market, and the national economy. Reducing the cost of transactions has both social and macroeconomic effects.
It is worth noting that PrivatBank has long been competing in the cross-border P2P transfer market with international payment systems such as TransferGo, Wise, Paysend, Revolut, or Western Union. Many of them have fees ranging from 1.5 to 3%, depending on the country, transaction volume, and method of receipt.
Read also: PrivatBank temporarily reduced tariffs for international transfers
International transfers become cheaper: who will benefit from the innovation
- Gastarbeiters are Ukrainians who work abroad and regularly send money to their families in Ukraine.
- Students and freelancers who receive income from abroad.
- Small businesses working with foreign partners through personal transfers.
- Recipients themselves, who can now get more money in their hands, as the entrance fee has also become lower.
Transparency and security as additional benefits
Unlike some informal or gray area services, P2P transfers through Privat24 are completely transparent to both government regulatory authorities and the banking system.
Such a transparent platform gives confidence in the safety of funds, which is especially important in wartime.
It is also important that PrivatBank offers instant crediting of funds, conveniently integrates all transactions into the transaction history, and the Privat24 app has a high level of cyber security.
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