PrivatBank explained why it blocks cards and payments even for small amounts.
PrivatBank provided an explanation regarding the blocking of payments and cards even for small amounts. The information was published on the bank's official Facebook page.
The reason for this explanation was a complaint from a client who reported frequent blocks on financial transactions. 'It has been impossible to work for a week, every payment needs to be confirmed, identified, cards are blocked for cash withdrawals, and amounts of 500-700 hryvnias,' said the bank's client.
A representative of PrivatBank explained the principle of transaction verification. According to him, the bank uses a special algorithm to protect clients' funds, which conducts a deep security analysis for each financial transaction.
Confirmation of transactions depends on the riskiness of the operation, the security of the 'Privat24' session, and the presence of protective programs on the client's device. Depending on these parameters, the confirmation can occur in various ways: without additional actions, via SMS password, in the 'Privat24' app messenger, or by a phone call to the client's financial number.
Earlier, PrivatBank reduced the fee for some transfers by half.
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