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FINANCES

On this page you will find how to exchange money and open a bank account.


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Last updated: Friday, August 19, 2022

Here you can find information on how to exchange your money.

Can Ukrainian refugees exchange the cash they brought with them into euros?

From 15 June 2022 refugees with Ukrainian nationality can exchange up to 10,000 hryvnia in banknotes into euros (roughly EUR 310) free of charge. This can only be done once. They can do this at any GWK Travelex branch. Initially, this scheme will be in place for 3 months, expiring on 15 September 2022.


What money can they exchange?

Only banknotes in denominations of UAH 100 or more will be accepted. Coins will not be accepted.


Who can make use of this scheme?

This scheme is available to people aged 18 and over who have:

  • a valid Ukrainian passport or identity document, or

  • Ukrainian nationality and a Dutch residence document or alien’s identity card, or

  • an expired Ukrainian passport or identity document (laminated), bearing a validity sticker issued by the Immigration and Naturalisation Service (IND).

If you have a handwritten (Cyrillic) passport, it is unfortunately not possible to use this scheme. The government is looking into the possibility of making use of the scheme in the future.


Do people have to show ID at the GWK Travelex office?

Yes, in order to change Ukrainian hryvnia into euros, people must identify themselves using one of the identity documents listed above.

Visit the website below to find a GWK Travelex branch near you.


Is it possible to exchange the maximum amount of money multiple times?

Each person aged 18 and over can change a maximum of UAH 10,000 (roughly EUR 310) once only.


My Ukrainian passport or identity document has expired. Can I still benefit from this scheme?

Yes, but only if your document bears a sticker from the Immigration and Naturalisation Service (IND). In this case the procedure is more extensive, so you can change your money at a GWK Travelex branch only between the hours of 08.00 and 18.00. Please note that different branches can have different opening hours. See the GWK Travelex website for more information on opening hours.


Do I have to pay a fee?

No, the exchange of hryvnia into euros is free of charge under this scheme.


Is the exchange rate fixed?

No, the agreement with the Ukrainian central bank is that they can set the exchange rate on a weekly basis. At the moment, the exchange rate is unchanged from the start of the scheme. So 10,000 Ukrainian hryvnias is still equivalent to about 265 euros.


Is enough money available so that all Ukrainians in the Netherlands can make use of this scheme?

The Dutch government expects that up to 75,000 Ukrainians in the Netherlands will want to make use of this arrangement. This is based on experience in Poland, where 10% of Ukrainian refugees have used a similar scheme.


Where can I ask questions?

Contact a GWK Travelex location in your neighbourhood.