Oschadbank will start withdrawing money from Ukrainians' accounts to repay overdue loans.

The state Oschadbank announced changes in the procedure for contractual withdrawal of funds, which caused an increase in inquiries to the bank's contact center.

From September 28, 2023, this function will extend to all client accounts across Ukraine, not just in one region as before, stated Oschadbank's Chairman of the Board, Serhiy Naumov.

The contractual withdrawal is stipulated by the Comprehensive Banking Service Agreement of Oschadbank, according to which, in the event of overdue debt on one of the client's accounts, the bank has the right to automatically repay it using funds in other accounts of this client. It is worth noting that this procedure applies only to accounts in hryvnia.

Serhiy Naumov provided several recommendations to clients on how to avoid such withdrawals:

• Make timely credit payments and cover bank fees.
• Leave enough funds in the account for monthly fee withdrawals.
• Regularly check for debt using the contact center, chatbot, bank branch, or online services Oschad 24/7.

It should also be noted that clients are informed about the occurrence of debt via SMS or Viber.

Recall, Oschadbank previously warned that pension payments to displaced persons would be suspended.