The NBU, jointly with all of Ukraine’s systemically important banks, has worked for more than a month to develop a solution that will meet the challenges posed by massive missile attacks.
The banks should participate in the Ukrainian authorities’ project to ensure the invincibility and uninterrupted provision of critical services amid energy terror, specifically by securing the continuity of banking services.
At the NBU’s initiative, all systemically important banks have combined their efforts to set up POWER BANKING, a joint banking network.
This is a joint network of bank branches that spans all of Ukraine and that will operate and render banking services to clients even during blackouts. The branches making up the joint network have alternative energy sources, backup communication channels, enhanced cash collection capabilities, and additional staff.
"This is a challenge for the whole country, for each of us. On the President’s instructions, the government and local authorities are implementing a project to support our people by establishing a network of invincibility points. The banks are contributing by defending the financial frontline. Their task is to ensure the continuity of the provision of banking services. The joint banking network is a unique project that sets an example of consolidation and partnership between Ukrainian banks. After all, they have chosen daily coordination and exchange of experience over competition, so that together we can effectively meet the challenges of war," said NBU Governor Andriy Pyshnyy.
POWER BANKING connects all 14 systemically important banks, whose branches have become the network’s basis, and involves other banking market participants. More than 1,000 branches in all of the country’s oblasts are additionally equipped to work during blackouts (about 80% of the branches are those of systemically important banks).
In blackout conditions, a certain list of urgent banking services will be available to all customers at POWER BANKING branches. The services will include:
- cash withdrawals (at ATMs or cash desks)
- payments, money transfers (through cash desks or self-service terminals)
- currency exchange (provided the branch has FX cash in its vault)
- consultations with managers on financial issues.
In addition, the POWER BANKING network also offers a domestic ATM roaming capability. It will enable Ukrainians to withdraw an increased amount of cash from an ATM of any network bank to meet current needs and build up a certain reserve.
The map of POWER BANKING branches is regularly updated on a separate page of the NBU’s website that features the network’s details, the list of branches, the ATM roaming options, recommendations, and answers to FAQs: https://power.bank.gov.ua.
NBU Governor Andriy Pyshnyy’s video about the POWER BANKING network can be viewed here.
The list of branches will grow as the POWER BANKING network expands. For your convenience, we recommend that you periodically download an updated pdf file with this list to your mobile devices. This way, up-to-date information on the branches will always be at your fingertips, even when your internet connection is down. You will also be able to identify the joint banking network’s branches by the POWER BANKING mark on their entrances. This sign will indicate that the branch is specially equipped and that it will work during long-term power outages.