Oschadbank Tightens Credit Card Closure Rules, Drawing Customer Complaints Over Long Lines.

Challenges Closing Credit Cards at Oschadbank

According to Novyny.live: Oschadbank has introduced specific policies that make closing credit cards a cumbersome process for its customers. To close a card, clients must visit the exact branch where the card was originally issued, and their account balance must be zero. Because the bank does not offer remote closure options, many customers find themselves stuck in a frustrating cycle of in-person visits.

One customer trying to close her card shared her experience:

“I have 3 kopecks left on my account and I can’t close it. Now I’m going to the branch for the fifth time... Today they’ll deactivate those 3 kopecks, and I’ll have to come back again in a day.” – Oschadbank Customer

This case highlights just how complicated Oschadbank’s card closure process can be.

Steps to Close a Card

To close an account, customers must visit a branch in person with a valid ID and the card itself. There must be no outstanding debt on the account, and any remaining funds must be transferred to other accounts. The closure process can take up to 30 days from the date the application is submitted. Only virtual cards can be closed remotely, which adds to the inconvenience for holders of physical plastic cards.

A bank representative commented on the situation:

“We are very sorry that you encountered such difficulties when closing your account.”

Meanwhile, until the end of July, Oschadbank customers can earn up to 500 UAH in cashback for topping up their cards—a perk that might appeal to those who haven’t yet closed their accounts.

As a result, Oschadbank customers face significant hurdles when trying to close credit cards, largely due to the requirement for in-person branch visits and a series of conditions that must be met.

The situation surrounding credit card closures at Oschadbank underscores how banking procedures can create unexpected challenges for customers. This could damage the bank’s overall reputation, especially amid growing competition in the financial services market. On the other hand, the cashback offer may encourage clients to keep their cards active, benefiting the bank—but it only adds to the difficulty for those determined to close their accounts.