Bank Deposit Guarantee Fund is the only institution in Romania that has the mission to guarantee deposits constituted at credit institutions participating in the Fund, as well as to pay compensations to guaranteed depositors, within the guarantee limit and other conditions established by law, when the deposits become unavailable.
The Bank 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 uninsured categories, as presented in list of deposits excluded from guarantee, according to the provisions of Law 311/2015 concerning deposit guarantee schemes and the Bank Deposit Guarantee Fund.
Deposits held by natural or legal persons at institutions participating in the Fund are guaranteed by law by Bank Deposit Guarantee Fund within the limit of 100,000 euros, in lei equivalent.
Deposits made by individuals resulting from:
- real estate transactions related to real estate with residential destination;
- the event of retirement, dismissal, from the disability status or death of the depositor;
- the collection of insurance allowances or compensation for damages resulting from crimes or for wrongful convictions.
They are covered over the equivalent in lei of the amount of 100,000 euros, 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 classification of the 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. Compensation payments are made only in lei.
By compensation, according to the law, 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 the guaranteed deposits that a person holds at the respective credit institution (at the moment they became unavailable) the total value of the due debts that they have until that date to the credit institution is deducted.
Compensation Payment is made in the national currency, regardless of the deposit/deposits currency.
Termstart a paymentsthe compensation period is 7 working days from the date the deposits became unavailable.
Document „DEPOSITOR INFORMATION” includes „list of deposits excluded from guarantee” and „the form for information provided to depositors” according to the provisions of Law 311/2015 regarding deposit guarantee schemes and the Bank Deposits Guarantee Fund.
