Banks are rebuffing refugees with wads of cash: the Ukrainian currency cannot be exchanged.
the essentials in brief
- Ukrainian refugees cannot exchange cash at Swiss banks.
- This is a big problem, says Ambassador Artem Rybchenko to Nau.ch
- Individual banks are now looking for solutions or refer to bank cards.
Hundreds of refugees from the Ukraine war have already fled to Switzerland. Whole bundles of banknotes are often included in the luggage. Because for 100 Ukrainian hryvnia, the most used banknote, you currently only get about three francs. If you get anything at all: “It’s a big problem,” says Ukraine’s ambassador to Switzerland, Artem Rybchenko.
No exchange for Swiss francs
Refugees usually fail because they cannot change their money into francs, euros or another currency. They will be turned away at banks and exchange offices. He very much hopes that a solution can be found here, Rybchenko says to Nau.ch: “You need the money to live, to buy groceries!”
Of course there are also refugees who come here without money. The embassy is there 24/7 to help everyone. But a solution to the money question is extremely important. The ambassador indirectly points out that the Swiss banks are well versed in international currency issues.
“Swiss banks are a big hub for Russian terrorists,” complains Rybchenko. “They’re funding people to keep this war going.” Here, too, one is very interested in finding solutions and preventing such payments.
New territory for banks
When asked by Nau.ch, the responsible authorities reacted cautiously and referred to each other. The problem is apparently not purely Swiss: there are also reports from euro countries that Ukrainian hryvnia cannot be exchanged.
Both there and here it is pointed out that this was not possible long before the Ukraine war. There is also currently no market for it – but that could change.
The Zürcher Kantonalbank confirms that the hryvnia is not traded and that it is therefore not possible to change money at the counter. But: “We are currently examining various ways in which Ukrainian refugees can be supported in connection with banking services.”
Other banks point out that the hryvnia is an “exotic currency”. No cash is exchanged for such items, as this would incur costs for storage or even return to the country of origin. On the other hand, it should be possible to withdraw money with a Ukrainian Maestro, Visa and Master card.
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