HOW TO GET COMPENSATION IF YOUR BANK FAILS

HOW QUICKLY WILL THE PAYOUT START

The DGF starts the payout of the guaranteed amount of deposit in the national currency of Ukraine in the manner and in order of priority established by the DGF no longer than 20 business days (for the banks with over 500,000 accounts in the database - no longer than 30 days) from the day of the commencement of the bank resolution procedure by the DGF.

In the course of the provisional administration the payouts are made only under the agreements with a validity period that has expired at the date of the commencement of the bank resolution procedure and under the bank account agreements. After the revocation of the banking license and commencement of the liquidation process the deposits are paid out to all covered depositors regardless of the date of the deposit agreement maturity.  

Payout of the guaranteed amount of deposit under bank account agreements is made only after receipt by the DGF of full information on transactions made by the payment system (domestic and international).

 

WHAT AMOUNT IS PAID OUT

The DGF shall refund the money in the amount of the deposit, including the interest as at the date of the commencement of the bank resolution procedure by the DGF, but the amount in question may not exceed UAH 200,000 regardless of the number of deposits in one bank.

Payouts of foreign currency deposits are made in the national currency of Ukraine after recalculation of the deposit value at the official exchange rate of UAH to foreign currencies set by the National Bank of Ukraine as of the date of the commencement of the bank resolution procedure.

 

WHERE CAN YOU GET YOUR REIMBURSEMENT AND WHAT DOCUMENTS TO PRESENT

The DGF disburses the guaranteed reimbursement amounts via agent banks that shall make the payouts in cash or cashless form (at discretion of the depositor). The payouts are made in accordance with the general depositors register (the list of depositors eligible for the deposit payouts). There is no need to file applications or send any documents to DGF in order to get reimbursement during the payouts according to the general depositors register. In the agent bank the depositors have to identify themselves by presenting passport or other ID, resident individuals should additionally provide taxpayers number card.

In case of payout to the third person on the ground of a proxy, he or she shall additionally provide agent bank with a notarized proxy.

Information regarding the starting date of the deposit payout as well as the list of the agent banks can be found on the DGF website (on the page of the failed bank). It’s also published in the official newspapers “Holos Ukrayiny” or “Uriadovy Kurier” and available at the telephone “Hotline”: 0-800-308-108.

 

WHEN DO YOU HAVE TO MAIL YOUR APPLICATION FORM

After completing of payouts according to the depositors general register (notification thereof will be published on the DGF website), a payout of guaranteed amount of deposits shall be made on the ground of an individual written application.

In this regard, depositor shall send to the DGF:

- filled in application form, which shall include information on actual place of residence, personal signature, and date;

- copy of taxpayers number card

- copy of passport (pages with the surname, name and paternal name, as well as with information about the date of passport issuing and issuing authority, place of residence).

To receive reimbursement on the ground of a proxy, the authorized person should additionally provide DGF with a notarized copy of a proxy.

In case of payout to the legitimate heir, he or she in addition to the documents listed above shall provide the DGF with a notarized copy of a certificate of inheritance. In this case the payouts shall be made only on the ground of an individual written application.

Applications will be processed within a period not exceeding three calendar months.

 

HOW LONG CAN YOU APPLY FOR YOUR REIMBURSEMENT

The covered deposits are paid out throughout the bank liquidation period, which shall last for no longer than two years. The time-limits for bank liquidation may be extended up to two more years with the possibility of the repeated extension by up to one year. The DGF shall complete the payout of the guaranteed deposits on the day of the document submission for making record in the Unified State Register of Legal Entities of liquidation of a bank as a legal entity.