PrivatBank now automatically arresting account: how it works

Приватбанк отныне автоматически арестовывает счета: как это работает

80% of arrests of Bank accounts in PrivatBank is automatic.

This was reported by the Country, the press Secretary of PrivatBank Oleg Serga.

The average is 2.4 thousand locks of 3.05 thousand requests to the state Bank within one working day. Only 20% of the documents (611 pieces a day) on the arrests of client accounts continues to flow and be processed in paper mode.

We are talking about the arrest of accounts, which occur according to the rules of the courts. They spend either the State Executive service, or private bailiffs. And the decision may relate to various disputes and cases from alimony payments and traffic fines to decisions on property disputes.

State PrivatBank is the only Bank in Ukraine, which switched to the automatic seizure of the accounts is confirmed in the Ministry of justice. At the same time in this structure is concentrated most of the accounts in our country – more than 20 million pieces. The blocking of accounts happen very quickly after receiving the message by the judiciary through a special system: the Bank finds out if he has an account specified person, and then arrest him. A man is more use to the lifting of arrest. Neither card in store to pay, any cash Deposit to remove.

PrivatBank has launched automatic blocking of customer accounts in October 2019. And over time, officials want to implement it in other financial institutions, and talk about it openly. “This is a very effective system. Now discussing the question, to have joined a few banks. Also working to the end of the year this system was mandatory in all the banks,” – said the Minister of justice Denis Malyuska.

In PrivatBank emphasize that an important point of introduction of automatic system was not only lightning-fast system lock and unlock too.

“A serious problem for customers was just unlocking. When the entire document was in paper form, it is possible to wait three to seven or more days. Was that who small fine for a few hundred hryvnia, people have lost access to the account and sat without money. Now it is enough to resolve the issue (for example, to pay a fine), and the contractor will remove the lock. Will be removed very quickly, you don’t need to wait weeks for and to carry papers from one place to another. I should note – it is only the suspension of the account, the automatic withdrawal of money from the account we do not spend. Don’t even look how much money there”, – said Oleg Serga.

Write-off of money according to the decisions of courts occurs after the locks of the old regime – in paper format.

“Winning in court, the party receives a writ of execution. Then goes to the Bank, demanding the arrest of the account and to debit a specified in the judgment amount in favor of the prevailing party. There is a procedure and the bailiffs she strictly followed,” – said “the Country,” senior partner of the law firm “Kravets and partners” Rostislav Kravets.

Automation of arrests Bank accounts of lawyers are welcome on one condition.

“If it is applied correctly and without errors. To avoid abuse and the arrest of accounts was not used to put pressure on people. Operative accounts blocking is very important, they will allow us to better execute decisions of the courts. If everything is done quickly, the losing party may not be able to quickly withdraw funds and avoid responsibility”, – said Kravetz.