Updates to the 'National Cashback' Program
The 'National Cashback' initiative in Ukraine has been updated, with new rates taking effect from March 1, 2023. The previous flat 10% rebate has been replaced with a two-tier system of 15% and 5%, determined by the product category. These new terms apply automatically to all existing program participants.
Cashback Rates and Key Conditions
A 15% rebate now applies to:
- Non-food items manufactured in Ukraine,
- Domestically produced cheeses,
- Certain types of groceries.
A 5% rebate is offered on:
- Other food products,
- Medicines,
- Garden and horticultural supplies.
It is crucial to note that cashback is awarded exclusively for Ukrainian-made goods. Alcohol and tobacco products are excluded from the program.
The monthly cashback limit remains set at 3,000 hryvnias. Funds are credited to the participant's card after the 20th of the following month. No re-registration is required, as the updated conditions were applied automatically. Funds accumulated this year will be available for use until June 2027. These funds can be spent on:
- Utility bills,
- Services from Ukrposhta (the national postal service),
- Ukrainian goods at participating stores,
- Medicines at pharmacies,
- Charitable donations and contributions to the Armed Forces of Ukraine.
However, the cashback cannot be withdrawn as cash or transferred to another card.
“Nothing has changed in this regard,” the program's authors noted.
The revisions to the 'National Cashback' program are designed to bolster support for Ukrainian manufacturers, potentially encouraging greater consumption of domestically produced goods. This initiative is part of broader economic measures to stimulate the national economy. For consumers, the cashback on Ukrainian products offers a practical way to save money on everyday purchases, which is particularly valuable given the current economic challenges facing the country.
As the 'National Cashback' program adapts to support local producers, it’s essential for participants to stay informed about the upcoming payouts. Starting February 27, significant cashback distributions are expected to benefit over 4.4 million Ukrainians. For more details on how these payouts will impact consumers and their potential savings, check out the latest updates on December cashback distributions.