Pravex-Bank, a private Ukranian commercial bank, is offering its customers a new service that will allow them to transfer money from Italy to Ukraine.
Express to Family only costs $3.38 dollars regardless of the amount transferred and offers an unlimited number of transfers, with $6,750 allowed for each transfer, which is cheaper than the average cost international money transfers of $68 for each transfer of $1,350.
Pravex-Bank offers the service in conjunction with Italian banking group Intesa Sanraolo.
"An extensive network of Intesa Sanraolo can send money from anywhere in Italy and a wide network of Pravex-Bank, in turn, provides a translation of the entire territory of Ukraine," Semen Babaev, the director of retail business at Pravex-Bank, said. "The client can get a translation in cash and in the current account.
"Another advantage is the fact that the balance in the account shall bear interest - up to 3 percent annum."
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