Cyprus PrivatBank depositors can withdraw no more than 500 euro a day

The Cyprus branch of PrivatBank faced problems following the Ukraine branch nationalisation, which resulted in limiting the withdrawal amount for its depositors to EUR500 a day. In this respect, the Central Bank of Cyprus recommends to apply directly to the Ukrainian Central Bank for the details.

The deposit protection implemented in the EU covers EUR100,000, which implies that in the event of the bank’s bankruptcy, depositors can be refunded within the protected amount.