From July 6, PrivatBank sets the market exchange rate for non-cash transactions. This means that from today, the exchange rate for paying by card rises to the level of the cash rate. With this decision, the bank actually put an end to “card tourism” 
A gray scheme for importing cash into the country, when a person took a lot of cards, crossed the border, took off at the official rate, and returned back and handed over these dollars or euros at an increased market rate. .
First of all, we are talking about card conversion rates: cash withdrawals and transfers in hryvnia in Ukraine from foreign currency cards, as well as all types of transactions abroad in foreign currency using hryvnia cards. The bank explained that they set exchange rates for card payments and the sale and purchase of cash currency based on the market situation, regulatory documents of the regulator, maintaining the integrity of the market and based on the interests of its customers.
At the same time, clients are still forced to sell foreign currency at a reduced rate fixed by the NBU – about UAH 29.5/$. Recall that on May 20, 2022, the NBU, by Resolution No. 102 , allowed banks to withdraw funds from hryvnia cards abroad at the market rate and reduced the limit on cash withdrawals abroad to UAH 50,000 equivalent (previously it was 100,000). That is, the NBU actually allowed banks to buy currency at a fixed rate, and sell it at a market rate. Then PrivatBank reported that the bank would retain the exchange rate of the hryvnia into foreign currency on its cards outside the country, which was in effect until the National Bank lifted restrictions on the upper limit of such an exchange rate. And now PrivatBank has changed its policy and leveled the card and cash rates.
As of July 6, the exchange rate on the PrivatBank website is UAH 35.461 per dollar per sale and UAH 36.64 per euro.
Together with PrivatBank, the card and cash exchange rates were equalized by monobank, volunteer and blogger Igor Lachenkov reports . Now, if you use a hryvnia card to pay abroad or withdraw dollars from ATMs, then the conversion will take place at the new sales rate plus a 2% conversion fee. In monobank, the card rate rose to 35.18 UAH/$ and 35.99 UAH/€, respectively.
As for the 2% conversion fee, here is a comment from monobank support:
Conversion when paying is made without an additional commission, you can withdraw funds from a foreign currency card abroad up to 100,000 UAH per day (excluding commission), from hryvnia up to 50,000 UAH per month.
I want to clarify that in Poland, Hungary, Moldova, Romania, Slovakia, when withdrawing from ATMs of the EURONET network, there will be no commission from the ATM, but the card commission is 2% of the withdrawal amount.
In other ATMs, there may be a commission according to the bank’s tariffs and a card commission – 2% of the withdrawal amount.
At the end of June, monobank found a way to bypass the NBU restrictions that oblige to sell currency at the exchange rate set by the regulator – then it opened foreign currency cards for travel expenses to all sole proprietors (the loophole worked only abroad).
monobank has opened currency cards for all private entrepreneurs for “travel expenses” – this allows you to bypass the NBU restrictions (but only abroad)
