Funds Frozen and Accounts Closed by Oschadbank: Steps to Recover Your Money.

Oschadbank Shuts Down Customer Accounts

According to Novyny.live: Many refugees face severe financial hardship as Oschadbank closes client accounts—including payroll cards—without allowing withdrawals. To retrieve their money, customers must visit a branch in person. This policy has sparked widespread concern among those relying on these funds during a difficult period.

According to available information, Oschadbank has the authority to unilaterally terminate agreements with clients. Currently, some customers cannot access funds on blocked cards. The closures may be linked to the ongoing war, which has created complications in financial matters. As one affected client states:

'The bank closed the card that still held my salary. None of the operators are helping us withdraw the money.'

Barriers to Accessing Blocked Funds

To recover blocked funds, customers must personally visit an Oschadbank branch. The bank’s support team reports that 'the money remains in the account until the client independently comes to a banking office.' This requirement poses additional challenges for those unable to travel quickly to a branch.

Furthermore, Oschadbank may charge a service fee for inactive accounts. The bank reportedly deducts around 100 UAH per month for such accounts. If an account remains inactive for over a year, the institution transfers the unwithdrawn funds to a balance sheet account. This creates an extra financial burden for customers who cannot access their money.

In summary, Oschadbank’s account closures without withdrawal options present serious obstacles for clients, especially those in vulnerable life circumstances. It is crucial for customers to understand their rights and available options to avoid losing their finances.

This situation underscores the need for financial institutions to operate transparently and uphold ethical standards toward clients, particularly during crises. Refugees and other at-risk groups already face numerous challenges, and restricted access to financial resources only worsens their plight.