Bank Deposit Guarantee Fund is the only institution in Romania that has the mission to guarantee deposits made at credit institutions participating in the Fund, as well as to pay compensations to guaranteed depositors, within the guarantee ceiling and other conditions established by law, when deposits become unavailable.
The Deposit Guarantee Fund guarantees deposits, in any currency, at credit institutions participating in the Fund, within the limits and conditions provided by law. An exception to the payment of compensations is made for deposits that fall into the categories of non-guaranteed deposits, as presented in list of non-guaranteed deposits , according to the provisions of Law 311/2015 regarding deposit guarantee schemes and the Bank Deposit Guarantee Fund.
Deposits held by natural or legal persons at the institutions participating in the Fund are guaranteed by law by Bank Deposit Guarantee Fund within the limit of 100,000 euros, in equivalent lei.
Deposits made by individuals resulting from:
- real estate transactions related to immovable property for residential purposes;
- the event of retirement, layoff, from the disability status or death of the depositor;
- the collection of insurance benefits or compensation for damages resulting from crimes or wrongful convictions.
The equivalent in lei of the amount of 100,000 euros is covered, for a period of 12 months from the date on which the amount was credited to the account at the Bank or from the date on which the deposits can be legally transferred to another credit institution.
The allocation of amounts into the three categories mentioned above is made based on the supporting documents presented by the bank's client.
In case deposits at a credit institution participating in the Fund become unavailable, FGDB will ensure the payment of compensations, within the guarantee limit. The payment of compensations is made only in lei.
By compensation, according to the law, it means the amount that the Fund pays to each guaranteed depositor for unavailable deposits, regardless of their number, within the guarantee ceiling and under the conditions provided by Law 311/2015 on deposit guarantee schemes and the Bank Deposit Guarantee Fund.
Compensation level it is calculated as follows: from the sum of all guaranteed deposits that a person holds at the respective credit institution (at the moment when they became unavailable), the total value of the outstanding debts that the person has up to that date towards the credit institution is subtracted.
Compensation Payment it is done in the national currency, regardless of the deposit/deposits currency.
Deadline of beginning a paymentsthe compensation period is 7 working days from the date the deposits became unavailable.
Document „DEPOSITOR INFORMATION” includes „list of non-guaranteed deposits ” and „the form for information provided to depositors” according to the provisions of Law 311/2015 regarding deposit guarantee schemes and the Deposit Guarantee Fund.
