PrivatBank has introduced the money transfer service using Welsend system, the bank has said in a press release.

The Welsend money transfer system was created by Ukrgasbank (Kyiv) in 2013. Partners of Welsend are 53 financial institutions both in Ukraine and outside the country. The system is present in over 120 countries and has over 250,000 servicing points.

As reported, on December 18, 2016 the government at the suggestion of the NBU and PrivatBank shareholders, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution in the Ukrainian market. The state received 100% of its capital.