Ukrainian Nationals Are Eligible to Open a Bank Account in EU Member States
According to the European Commission website, Ukrainian nationals that are legal residents are able to have a bank account open with all basic features, free of charge or with a reasonable fee, AtoZSerwisPlus.com reports.
Having a bank account enables Ukrainian nationals to access common services, such as paying for services, depositing money or sending other people money – a service that could be a great hand of help, especially for Ukrainian citizens stuck in the warzone, running out of food and other supplies.
An identity document or other information about identification is required for people that want to open a bank account.
“EU rules ensure that the money in your bank account (savings account and/or current account) is protected if the bank holding your account fails. Your money is protected up to a limit of €100,000 or the equivalent in local currency. This limit applies per person and per bank, meaning that if you have several accounts at the same bank, the limit of €100,000 applies to your aggregated accounts,” the website explains.
These measures can facilitate the life of Ukrainians living in Europe, while millions of them are coming to Europe fleeing their home country.
According to data from the United Nations Refugee Agency, UNHCR, over 10.6 million border crossings from Ukraine have been recorded from February to August 9, with the majority of them also registering for Temporary Protection.
In addition, UNHCR reveals that 6.3 million refugees from Ukraine are estimated to have entered Europe and a total of 3,797,608 refugees registered for temporary protection status across all European countries.
Frontex, the European agency for border and coast protection, had previously stated that 7.6 million Ukrainians had entered the EU from Ukraine and Moldova since February 24, when the war in Ukraine started. During the same time, 4.7 million Ukrainians are recorded to have exited the EU, moving towards Ukraine.
“Flows from Russia and Belarus have remained on the same level as in previous weeks: between July 28 to August 3, 11,148 Ukrainian nationals arrived in the EU from Russia and Belarus. 4,002 Ukrainians entered the two countries from the EU during the same period,” the statement of Frontex reads.
The number of people who were internally displaced is also among the highest, as data from July reveals that 6.64 million Ukrainians have been displaced – down from 7.1 million recorded in May.
