PrivatBank clients must update their data: otherwise access to accounts will be blocked.

According to inkorr.com: PrivatBank clients must update their personal data, otherwise they risk losing access to their bank accounts and cards. This procedure is mandatory even for those who have not changed their data. The financial institution emphasizes that updating is a requirement of legislation regarding the prevention of money laundering and the financing of terrorism, especially under martial law conditions.

Data update procedure in 'Privat24'

'The data update period for each client is determined individually based on a combination of factors defined by NBU Resolution No. 65 of May 20, 2020, but not less frequently than once every five years'

To confirm and update their data, PrivatBank clients must follow several simple steps in the app:

• Open the 'Update Information' section;
• Confirm the absence of ties with aggressor states (Russia or Belarus);
• Enter the card PIN code;
• Provide or verify personal data in the questionnaire;
• Add a document through the 'Diia' app or photograph it manually;
• Indicate the registration address or actual place of residence;
• Specify social status.

After sending the data, a notification will appear in the app saying 'Documents received for verification', and then the client will be asked to sign the documents with an electronic signature.

The importance of regular data updates

PrivatBank emphasizes the importance of updating information, as it confirms the relevance of clients' documents and ensures the legality of financial transactions. This is an important part of international standards in the fight against financial crimes.

PrivatBank clients are required to update their personal data to comply with legislation and avoid potential difficulties accessing their financial assets. The updating process in 'Privat24' is quite simple and allows for confirming the relevance of the information necessary for conducting financial transactions.