Visa and MasterCard bank cards in Ukrainian hryvnia (UAH)
Depending on the purpose of use, plastic cards in hryvnia can be salary cards, debit cards, savings cards, credit cards, settlement cards, and pension cards.
With the help of plastic cards, you can:
- pay for a purchase in a shop without commission,
- cash out a loan issued by the bank,
- replenish the balance of a mobile phone,
- salary, pension or interest from the deposit placed in the bank can be transferred to it,
- in addition, a bank card is the most convenient (and, in some cases, the only) way to withdraw electronic money.
Any plastic card is a settlement instrument of any payment system. By and large, there are only two such systems. These are VISA and MasterCard cards. With their help, you can pay for a purchase, receive an electronic transfer or cash out money at an ATM. And you can do this in almost all countries of the world.
Types of Ukrainian bank cards
In terms of technological features of manufacturing, hryvnia plastic cards come with a magnetic stripe and a microchip. The latter card type has a higher cost but an extended functionality. It is also possible to withdraw electronic money or receive a money transfer on the "chipped" card. In case of transfer, the owner of the hryvnia card does not pay any commissions; the sender bears all costs.
Ukrainian plastic cards can belong to both Visa and MasterCard systems. And their name should not be confused with the name of any particular bank, as the same bank can issue both types of cards.
Working with EPS
As mentioned, plastic cards opened in Ukrainian hryvnia allow you to work with most electronic payment systems (EPS). Due to the increased number of non-cash transactions (buying goods in online shops, paying utility bills online) and the new ways of earning money on the Internet, the population has increased the need for ways to cash out virtual money.
Therefore, most banks of the country issue cards that support the ability to deposit/withdraw money from such popular EPS as:
- PayPal
- Global24
- AdvCash
- PerfectMoney
- Paysera
- JWallet
There are many ways to withdraw e-money, and such nuances as commission, maximum withdrawal amount, expiry date and type of card depend on the specific payment system. For example, funds from the AdvCash hryvnia wallet can be withdrawn to almost any "PrivatBank" payment card. It is enough to enter the number of the corresponding card, the amount and the recipient's name. The funds transferred to the card can be cashed out at any ATM or branch of "PrivatBank" without commission or through any other banking institution but with a certain amount for the use of services.
The main advantage of this method is that the money can be transferred to any payment card, which does not have to be assigned to a specific number of the e-wallet. Theoretically, the funds can be transferred to any hryvnia plastic card, even to a credit card.
The disadvantages of this method should be attributed to a long period of operations — up to three banking days.
Working with foreign systems
As for the withdrawal of electronic money from international payment systems, in this case, the withdrawal to the Ukrainian plastic card is made through international currency transfer.
It should be noted that the above payment systems work, as a rule, with Visa cards, and to receive funds in addition to the data about the recipient and his card, you need to specify a special SWIFT code. It can be learnt in the bank that issued the plastic card.
In addition, in this case, a small commission may be withheld from the card account. This is due to the fact that the main currency of international EPS is the dollar or euro, and when transferring funds to a Ukrainian plastic card, fluctuations of the hryvnia (UAH) exchange rate at the time of transaction against these currencies are taken into account. The recalculation occurs at the rate set by the issuing bank (card issuer) and not according to the NBU data, which are always slightly higher.
