This process may result in a transaction being flagged as high-risk, and in such cases, the bank reserves the right to block the card.
An example of this is when one of the bank's clients experienced a card block after making a payment of 144 hryvnias at a pet store using an ITbox terminal.
Following the transaction, the bank sent the client a form regarding a potential payment cancellation. After contacting the operator overseeing the verification, the payment was canceled. Despite this, the client's card was subsequently blocked.
The client expressed frustration over the situation, having spent considerable time trying to understand why the payment did not go through, especially given the small amount of the transaction.
Moreover, she had to visit the bank branch to replace her card, which required additional time and effort. PrivatBank explained that any transaction made with their cards may undergo further scrutiny by the Security Service.
If the card is deemed risky, it may be blocked for the protection of the client. However, the bank did not disclose the specific criteria used to assess transaction risks.
It is important to note that clients agree to this verification process when signing a contract with the bank, which allows the institution to block cards in cases of high-risk transactions. In the event of a block, clients can request a card reissue through the Privat24 app.
The process is simple: the client selects the card for reissue, configures it, orders a new one, and chooses a delivery method, which can be a Nova Poshta branch or a postal office. PrivatBank offers free delivery of the new card to the specified address.
