Insurance Fund

Everything about Individuals deposit Insurance Fund

Types of deposits, the volume of insured amount by the Fund and  the procedure of its reimbursement

Fund guarantees to reimburse to a customer of a Bank which is the member of the Fund (or temporary member)  the amount of deposit including interests in the volume at the date when the funds became unavailable for withdrawal but no more than 150 000 UAH for the deposits with each member of the bank.

The volume of reimbursement for deposits including interests at the expense of Fund my be increased by the decision of Administrative Council of Fund.

If a customer has deposits in several banks – members or temporary members of Fund which are being reorganizaed through merger or transformation into one bank-legal entity Fund guarantees the reimbursement of Funds for those deposits up to the deposit agreement expiry date under the conditions which applied before reorganization. Deposits opened after reorganization of banks-member or temporary members are guaranteed in the whole  amount but no more than 150 000,00 UAH.

Deposits with the balance of UAH 1,00 are not subject to reimbursement.

Reimbursement of deposits in foreign currency is executed in domestic currency at the official exchange rate defined by National Bank of Ukraine at the date when the fund became unavailable for withdrawal.

Limitation of guarantee

Fund does not guarantee the reimbursement of deposits placed by:

1) members of Supervisory Board , Board of Directors and Internal Auditing Commission;

2) employees of independent auditor`s companies (auditors) which executed the audit check-up during the last three years;

3) shareholders having more than 10% of shareholders capital;

4) third parties which are entitled to act on behalf of the depositors stated above (articles 1-3);

5) depositors having individual conditions and get favourable interests and has financial privileges which resulted in worsening of financial standing of the bank;

6) depositors not identified by Liquidation Commission.

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NB We recommend to refer to complete version of the Law of Ukraine “About Individuals Insurance Deposit Fund” (ua).