Low cost bank accounts for Ukrainians in Portugal and with fewer rules to access services
Banks in Portugal promote the opening of low-cost accounts for Ukrainians who come to Portugal as a result of the war in their country. In addition, these citizens can benefit from more simplified rules in the processes for initiating relations with banks.
“Institutions that promote their activity in national territory, such as the first Ukrainians to promote the requests of citizens in Portugal with the context of alternative banking access, presenting this product to open an alternative movement”, he advised in communicated to the Bank of Portugal, admitting that this is a position that is in line with what has already been disclosed by the European Banking Authority (EBA).
The banking services account allows access to simplified operations (deposits, withdrawals, payments, direct debits, but with limits on transfers), with a maximum annual cost of 4.43 euros, as it is always 1% of the social supports.
SIMPLE RULES
In addition to the low cost, Banco de Portugal also intends to facilitate the relations of Ukrainian citizens. “Institutions should also take into account the existence of simplified identification and diligence measures in the diligence of demand deposits”, adds the statement. For example, an advanced national, “under the inclusion protection regime for foreigners authorized to reside in the territory”, under the included protection regime, will serve as an identification document in the accounts.
“In these situations, there is a possibility of mere collection (that is, with a dispensation) of the elements that did not appear in a document proving identification – such as an address and profession -, provided they were selected as foreseen so that such intervening in the account, the products and operations made available continue to have a risk associated”, continues the note. These rules exist to prevent illicit money from entering the financial system for the purposes of money laundering and terrorist financing.
At the moment, according to the Foreigners Border Services (SEF), Portugal has already received 25,193 requests for protection for Ukrainian citizens and foreigners in that country since the beginning of the war, with the invasion of Russia, on 24 February.
The Bank of Portugal statement follows the EBA’s position on March 11, in which it already asked for easy access to basic bank accounts for shelters.
In addition, countries protected against international banks, international banks, protected against bank values, international banks, protected against bank values, or protected against the operations support system. , or Swift.
- Text: Expresso, POSTAL’s partner newspaper