Convertible Deposit

Possible implications of the client’s using retail deposit/current accounts

Increase in personal income tax and military tax on proceeds of savings (deposit) transactions.

Classification of a banking institution as insolvent by the decision of the National Bank of Ukraine. Deposit repayment to the client by the Deposit Guarantee Fund plus interest yield as of the date of commencement of the procedure for withdrawing the bank from the market by the Fund. Deposits in foreign currency are converted into the national currency of Ukraine at the official UAH to foreign currencies exchange rate established by the National Bank of Ukraine on the date of commencement of the procedure for withdrawing the bank from the market by the Fund.

In the event of a client’s failure to file a deposit repayment claim to the bank under a bank savings (deposit) agreement, the deposit amount plus interest yield will be added to the current account specified in the deposit agreement, unless otherwise provided for in the agreement.

The bank shall not require the client to purchase any goods or services from the bank or its related or affiliated person as a mandatory condition for the provision of these services (except for the provision of a banking service package).

The bank shall not unilaterally amend the agreements with clients, which are already in place, unless otherwise provided for in the agreement or by the law.

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