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	Create New Topic   My Posts   My forum buddies   Invite friends   Private messages Russian brides > Main Forum > Saving Money in Ukraine Author Post ragingbull Member send PM   block PM add to buddies Send: 3/3/2009 8:58:09 PM   In these tough economic times, one should save money, if he has extra for potential hardships for the future. The banks are probably not trusted in Ukraine, besides their Hryvnia is losing value. Unless they are allowed to save in dollars or Euros, this is not a good way to save. The stock market is probably worse than the US, and this is legalized gambling, so again, this is not a way to save. Is there a safe way to save money in Ukraine, or do they? The only other way to save is just hoard the cash. Is it typical for Ukrainians to save or just spend it? Pitter Pen Member send PM   block PM add to buddies Send: 3/4/2009 2:50:16 AM   We always save and did not trust banks. And we just began to trust them when they killed this. The vast majority of Ukrainians save money in USD or EURO. Rag'n'Bull Member send PM   block PM add to buddies Send: 3/4/2009 4:27:42 PM   There are international banks with branches in Kiev, my company (Latvian) bank www.lbb.lv has a branch in Kiev and Latvian banks are 'offshore' thus another incentive. ragingbull Member send PM   block PM add to buddies Send: 3/4/2009 5:49:11 PM   When they killed this? What or who is this, Peter? When they save in USD or EURO, that must mean they don't use a bank or other business. Am I right? TINTIN Member send PM   block PM add to buddies Send: 3/4/2009 5:54:47 PM   Unless you live in Ukraine or rent out Apartments i see no point in this topic. ragingbull Member send PM   block PM add to buddies Send: 3/4/2009 10:18:19 PM   Move on, Tintin. My gf is in Ukraine. My gf's family is in Ukraine. There is a point to this topic. Pitter Pen Member send PM   block PM add to buddies Send: 3/5/2009 2:32:26 AM   Banks killed the trust Raginbull. Due to recession banks prohibited to take back people's money from their deposits (and the National Bank of Ukraine supported them). That is why people lost almost 50% of their deposits in UA currency. You know, you gave 10 th UAH to a bank but now have 5 th UAH and will be losing more because Hryvnia is continueing to devaluate and you still cannot take back your money. Plus banks increased interests on loans. So those who took loans in USD are in big problems. First, they have their salary in Hryvnia so the loans appeared twice more bigger. Second, banks increased the interests. So people try to give back their money and most of them will not use banks in a couple of years again. It is safer to have your money in USD under your pillow. ragingbull Member send PM   block PM add to buddies Send: 3/5/2009 3:45:39 PM   Thanks for the answer, Pitter. I kind of figured this is what was happening. I just needed someone to validate it. I send money now and then to my gf, bank to bank. It is free to me but, they charge her 1% to take it out. I wonder if this is still a good way to send money. Is there a chance that the banks might not give the money to her one of these days? Moneygram costs $9.85 per transaction. VNVnation Member send PM   block PM add to buddies Send: 3/5/2009 5:56:38 PM   I know of only one person here in Odessa that even has a bank account, and that is because he does business with foreigners and has to receive bank transfers from time to time. Most people that I know live paycheck to paycheck, so there is no need to have a bank account for savings. The few people that do have some savings keep dollars in their apartments. One of my friends is the manager of a bank here. He has been telling me that he has been ordered not to give back customer deposits, even though it is illegal. He also told me that another bank was about to fail. So, yes, I'd say that there is considerable risk in wiring money to your gf's bank account. Maxirat Member send PM   block PM add to buddies Send: 3/5/2009 6:55:07 PM   A friend of ours who works in a Kiev Bank said – 6 Banks are under National Bank administration now and 15 others are in bad financial status and will go unless bought out. All have funds invested frozen and unable to repay to depositors Tranz Bank gone belly up 2 days ago - not sure how significant this Bank was in Kiev ??? But our friend said its not a littlen My wife just said “best bank in Ukraine, is under your mattress in US$$$” with double steel doors on apartment entrance All bank deposits that are frozen – are in Grv currency. This is what is making people VERY angry. They want to withdraw and change into US$$ or Euro as the Grv is loosing so much value and their investment is shrinking in buying power. They would also be better to invest in property if they could get it out, at least it then wont evaporate completely or go completely when the bank goes under. Apartment prices have fallen 70% from peak. 2 room apartment for 50USK - 3 room for 70USK I know our apartment in Kiev was valued at 170 - 180K last year, so now probably 50 - 70k - luckily no mortgage. A lot of apartment owners borrowed against the huge increase in values of their apartments to buy cars and renovate and trips to Egypt and Turkey etc. And most loans went out @ US$$ rated – so now those mortgages are double repayment value ragingbull Member send PM   block PM add to buddies Send: 3/5/2009 7:02:18 PM   Her bank is Privat Bank, Dnepropestrovsk branch. I only send her $100 or $200 USD at a time. The fees of 1% is $1-$2 USD. Moneygram is $9.85..... What a choice. Thanks for the info, guys. Rag'n'Bull Member send PM   block PM add to buddies Send: 3/5/2009 7:11:17 PM   RB, Do you really think a mere $8 is worth such a song & dance about on the grand scale of things? Send her $200-$400 every other time, brings it down to a difference of $4 perhaps! Maxirat Member send PM   block PM add to buddies Send: 3/5/2009 7:19:51 PM   Privat Bank That was my wifes Bank when she lived in Kiev. Not sure about Privat Bank state of affairs, but a lot of employess that get their wages paid into Banks by their employer, are then not able to withdraw. We think Privat Bank ok (at the momment) - its one of the biggest there beemer18 Member send PM   block PM add to buddies Send: 3/5/2009 7:32:43 PM   I don't know how better this is but using ikobo, girl just goes to any atm and withdraws money in hryvnias, still able to do this and costs are low. What do you think Maxi? ragingbull Member send PM   block PM add to buddies Send: 3/5/2009 8:22:38 PM   If it's just one or two or three transactions, it would not be worth a song and dance, Martin. It is an ongoing thing and it will probably continue when she is here to help out her parents. I would rather not send her a lot at a time, which would save transaction fees, because she would also spend it quicker. Rag'n'Bull Member send PM   block PM add to buddies Send: 3/5/2009 8:29:16 PM   RB, My wife supports her mother also, we haven't sent money by WU or transfer etc. When one or both of us may have been there, maybe only once or twice a year, we've stocked up Mama's cupboards and frrezer whilst leaving with her a few hundred dollars to keep her going. If you think about it, and with planning, you may only need to make one payment a year, why fart around paying $100 every month, just pay $1,000 and forget about it it for the next 10 months or whatever? kiwinorth Member send PM   block PM add to buddies Send: 3/6/2009 9:13:24 AM   doesn't explain why there's so many of them. the amount is ridiculus for what banking is dune.. ragingbull Member send PM   block PM add to buddies Send: 3/7/2009 12:41:46 AM   Thanks for your input, Martin. There is a difference between us. You're married, I am not. I don't want to give her that much money at one time. I don't know how she handles money, yet. We have been together a total of nine days. She tell me most of what she spends it on, and none of that seems frivolous. Using your example, my fear is her coming to me the second or third month and she spent the $1,000 and wants some more. The title of my thread was my real question. I guess it's up to the individual. TheGoodone Member send PM   block PM add to buddies Send: 3/7/2009 9:13:43 AM   Ragingbull, you made a good point. ragingbull Member send PM   block PM add to buddies Send: 3/9/2009 4:36:11 AM   I live by myself, Angus. My child is grown. I'd like to think of her and her child as my family, at least in part. If I don't have as much incentive in going to work, and don't feel like working hard for my money. Your Reply: Your name:   New Registration Password:   Forgot password?   refresh Code:   Russian brides > Main Forum > Saving Money in Ukraine
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