The strength of Ukraine banking was one of the reasons for Ukraine's impressive economic growth spurt over the past decade. Recent global economic volatility, however, has since caused the downgrade in ratings for Ukrainian banks. Banks in the Ukraine are supervised by the National Bank of Ukraine which functions as the central bank of Ukraine. The World Bank has a strong presence in the country as well and monitors international banks in Ukraine.
The Ukrainian banking is generally friendly and less individualistic than US banking. However, money wiring fraud is a problem as noted by the US Embassy in Ukraine.
1. Banks in the Ukraine need to be monitored for upgrades and downgrades in their banking ratings.
2. Using a translator is important for doing business and working with Ukraine banks.
3. Ukrainian banking is generally friendlier and less individualistic than US banking but be aware of criminal activities with regard to fraud as reported by the US government.
Check the financial ratings for Ukraine banksFinancial ratings are important for banking business because they provide the basis for analyzing the riskiness of a given business venture. Banks in the Ukraine advice and ratings will change from time to time. Checking these sources every so often for new or changed information is important.
Learn the requirements for opening a bank account with Ukrainian banksOpening bank accounts are important to doing business in another country. It is necessary to know what banks are appointed to deal with foreign currency and its rules for foreign account holders. It is also important to be aware of criminal activities that affect transferring money.
travel advisory for the Ukraine. It monitors criminal activity against US citizens and when necessary states warnings for US citizens in their dealings with wire and money fraud.