How to spend funds from the 'National Cashback' card: an explanation from Oschadbank.

Clients of Oschadbank are massively contacting the call center with questions regarding the use of funds from the 'National Cashback' card, as the disbursement of 1000 hryvnias under the state program 'Winter eSupport' has begun (Source: Oschadbank).

The Chairman of the Oschadbank Management Board, Serhiy Naumov, explained that these funds can only be spent on specified categories of goods and services. Specifically, the received amount is allowed to be used for paying for utilities, transportation, medical services, education, mobile communications, insurance, as well as for purchasing books, medicines, and medical products of Ukrainian production. In addition, there is an opportunity to spend funds on charity, particularly to donate to the Armed Forces of Ukraine or to purchase military bonds (Source: Oschadbank).

Funds can be used both online and offline, but only in accordance with the specified categories of spending. Banks identify the direction of spending using MCC codes, which characterize the area of activity of the trading point. Operations to withdraw cash or transfer funds between cards are prohibited. The validity period of the funds is limited (Source: Oschadbank).

Serhiy Naumov also explained why sometimes payments through POS terminals may be unsuccessful. When making payments in bookstores or pharmacies, the bank checks both the trading point and the compliance of the goods with the conditions of the program. If the transaction could not be completed, it indicates that the seller has not joined the 'National Cashback' program and is not included in the official list of participants (Source: Oschadbank).