Monobank will offer currency transactions with euros and dollars

Ukrainian neobank monobank has launched an investment service for currency banks in dollars and euros in test mode. Funds remain available for withdrawal at any time.

The launch was announced by monobank co-founder Oleg Horohovsky. According to him, now currency savings can bring profit without blocking funds.

“Now dollars and euros will bring profit, and at the same time they can be withdrawn at any time. If you deposit from 1100 dollars or euros in a currency bank, you can enable investing – and you will receive 3.7% and 2.8% per annum depending on the currency,” he wrote.

Investment conditions

The minimum threshold for activating the function is $1100 or €1100 in a currency bank. For dollar savings, the rate is 3.7% per annum, for euros – 2.8%.

The bank will invest these funds in government bonds. At the same time, clients can withdraw money at any time without time restrictions.

According to Gorohovsky, even if the funds are withdrawn almost immediately after replenishment, the user will not lose anything, although he will not have time to make a profit.

Test launch

Currently, the function is working in a test format. Initially, it is planned to accept about 5,000 investments, after which the remaining users will be added to the queue.

The bank explains that the number of available foreign currency government bonds is limited, so the volume of connections to the service is controlled. If demand is high, monobank plans to purchase more bonds and expand access.

If the new feature is not yet visible, it is recommended to update monobank to the latest version.