Austrian banks, working side by side with the Austrian Financial Market Authority, were able to quickly develop solutions to improve access to payment accounts for Ukrainian refugees. A wide variety of measures are being used.
Austrian banks have worked side by side with the Austrian supervisors (the Financial Markets Authority) on solutions for better accessibility to payments accounts for Ukrainian refugees. Thanks to the close cooperation banks could provide their support for refugees coming from Ukraine swiftly. Taking particular account of the humanitarian situation and the urgent need for access to basic accounts for persons seeking protection the Financial Markets Authority informed banks which documents can be considered as sufficient to establish the customer's identity for the opening of a basic account or a payment account by Ukrainian refugees.
To help them accessing financial services banks offer accounts for special condition for refugees (eg for free for a year) and several banks have waived transfer fees to Ukraine to help sending money or enable them the exchange of Ukrainian cash.
In order to be able to make donations, banks provide on their homepage information for donors and cooperate with dedicated charitable organisations themselves and help and support them to raise funds and organise donations.
It goes without saying that we unreservedly support the sanctions imposed against Russia and our banks apply these consistently.
The Austrian Bankers Association and its members are concerned by the invasion in Ukraine and its consequences for the Ukrainian people, who are severely affected by the conflict. We express our deep sympathy and solidarity and are ready to provide quick and easy help to the Ukrainian population and refugees.
