Monobank ends cooperation with Tihipko's bank

Monobank ends cooperation with Tihipko's bank

The Monobank project (based on Universal Bank) announced it is ending cooperation with TAScombank, which belongs to Serhiy Tihipko.

This was told by the fintech co-founder Oleh Horokhovskyi in an interview with Minfin. “We made the decision to discontinue cooperation with this partner starting from 1 June. We will continue to have Universal Bank and A-Bank cash desks and the iBox network, but we will no longer work with TAScombank. I apologize to all customers who did not receive the expected level of service,” Horokhovskyi said. The outlet explains that it received a review from a Monobank customer about difficulties withdrawing cash from a deposit at TAScombank, which limited payouts to 150 thousand UAH. “It turns out you can review money as much as you want through the TAScombank cash desk (top-ups for monobank), but when it comes time to withdraw a deposit (through the partner bank) — we have an internal order that limits cash payouts above 150 thousand UAH,” the reviewer complained. According to the new financial monitoring law, which came into force on 28 April, the threshold for financial transactions subject to control was increased from 150 to 400 thousand UAH.

TAScombank, which belongs to Serhiy Tihipko, earned more than 450 million UAH in profit in 2019. The bank ranked among the top three in profitability among private financial institutions. It holds 17 place in the NBU ranking by asset size.