PrivatBank has launched “Envelopes” – an analog of “Jars” from mono
State-owned PrivatBank has launched a new service in the Privat24 app called “Envelope,” the bank said in a statement. “Envelopes are designed to collect donations, accumulate funds, and manage your own expenses.
- According to the report, you can pay with Convert as you would with a regular card.
- You can invite your friends to join the collection by adding them from your phone book or sharing the link on social media. Anyone can see information about the “Envelope” and replenish it with a click. Statistics on how much money has been raised are also available.
- To create an “Envelope”, you need to select a name for it and specify the currency (you cannot change it after creating it). You also need to add a description (what the collection is for, for whom, how the money will be spent, etc.) and a goal that will include the amount and end date of the savings. After that, you need to visualize the “Envelope” by choosing an image that matches its purpose.
- You can collect donations for charity or your own projects.
- You can seal the “Envelope” for a certain period or amount.
In 2020, monobank launched an option for accumulating money called “Banka.” In October 2022, the bank’s co-founder, Oleg Gorokhovsky, told Forbes that mono, or rather its Banka service, is one of the most popular tools for collecting donations for the Ukrainian volunteer movement. Since the beginning of the war and until October 2022, monobank has created more than 100,000 “cans” that have raised more than UAH 5 billion.
Horokhovsky noted that the “Banka” was an analog of Privat’s “Skarbnichka”, which could be used to quietly accumulate funds in small amounts by transferring a percentage of expenses or rounding up the balance. When a similar service was being developed in mono, a more modern version with the possibility of shared storage was planned. After the Russian invasion began, mono realized that it was possible to do not only savings but also collections together, and then the funds were given the opportunity to start “Banks.”
