monobank Allows Cash Withdrawals and Transfers in Installments

It sounds unusual, but it is now possible.

Ukrainian mobile banking app monobank has expanded the option to convert already made purchases from UAH 1,000 into installments. Now it is possible to convert into installments:

• cash withdrawals from an ATM
• card-to-card transfers
  

In addition, the time limit has been removed - now any payment from UAH 1,000 can be converted into installments from the moment you became a bank customer.

To do this, in the app's bottom menu, select “Installments” — “Set up installment” — “Convert purchase into installment” — select the desired purchase — choose the number of payments — agree to the installment terms. The purchase can also be found in the card statement.

Previously, monobank allowed splitting into installments after the fact only payments for purchases of goods, and only within one week.

The maximum installment, as before, can be split into 24 payments, which will be charged once a month. Service fee — 1.9% per month of the total installment amount.