How much of the deposit is insured? What deposits are insured by the state? What is deposit insurance

Numerous license revocations and ongoing bank reorganizations have devastated the Deposit Insurance Agency (DIA) fund, and since 2015 the deposit insurance system (DIS) has been financed by the Central Bank.

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And if in 2015 insurance payments amounted to 110 billion rubles, then since the beginning of the year, loan funds in the amount of 116 billion rubles have been allocated to support the activities of the Agency.

It is becoming increasingly costly for the state to save “sinking” banks on its own, so behind the scenes of power there are increasingly voices of opinion about the need to share the burden of responsibility among a wider range of stakeholders.

In particular, the introduction of the “bail-in” mechanism, in which large depositors will be forced to give up part of their deposits and exchange them for shares or debts of the bank.

And while officials are discussing upcoming changes to the procedure, let's figure out how the deposit insurance system works and what compensation a depositor can receive by law in 2018.

Story

The first such deposit insurance (guarantee) systems appeared at the beginning of the 19th century in the USA.

Initially, deposit insurance was initiated by credit institutions themselves and included three main elements:

• an insurance fund into which participants in the system had to make insurance contributions;
• list of permitted investment instruments;
• a council of authorized persons entitled to inspect credit institutions.

Until 1858, such programs operated in five states, and each of them had its own specifics.

In some, payments were made at the expense of the insurance fund, in others, banks were required to mutually guarantee the obligations of other participants in the system, and in two states both approaches were used.

At the same time, all programs had no restrictions on the maximum limit of compensation, and in some systems cash banknotes issued by the bank were subject to protection, not deposits.

However, all these programs folded over time due to a decrease in the number of their participants, and one fund went bankrupt.

At the beginning of the 20th century, attempts to create similar systems at the state level were renewed, but all the insurance funds established in 1908-1917 also ceased operations by 1930, having gone bankrupt during the banking crises of the 20s and 30s.

The economic crisis that broke out hit the US financial system hard during the Great Depression of 1929-1933. depositors of more than 9 thousand banks were affected.

Most of them went bankrupt as a result of the stock market crash in 1929, in which banks were active in investment activities, using client money to purchase securities.

To prevent a similar situation in the future, Congress passed the Banking Act (Glass-Steagall Act) in 1933.

Within the framework of which commercial banks were prohibited from participating in operations on the securities market, thereby dividing the concepts of commercial and investment banks.

And they introduced mandatory insurance of deposits up to $5 thousand, for which the Federal Deposit Insurance Corporation (FDIC) was created.

As a result, within a short time, the number of annual bankruptcies of credit institutions fell by more than 100 times, amounting to about 15 defaults per year.

It is worth noting that the amount of insurance coverage has been repeatedly increased over time, and since 2008 its amount has been $250,000, which makes the operation of placing savings in American banks a fairly safe investment method for middle-class savers.

In the European Union, the requirement for at least one deposit guarantee system for an EU member country has been in effect since May 1994, while the participation of banks in the CIS is mandatory, and the minimum amount of insurance coverage today is 100,000 euros per person in whose favor contributed.

In our country, the deposit insurance system has been in effect since 2004, since the adoption of Federal Law No. 177 “On insurance of deposits of individuals in the Russian Federation” (hereinafter referred to as Law No. 177). During this period, the amount of insurance coverage increased 14 times - from 100,000 to 1,400,000 rubles. In 2014, individual entrepreneurs were connected to the system.

Video: The State Duma doubled the amount of insurance compensation

How the system works

The main goal of the DIS is to maintain the stability of the financial system at the state level and reduce costs to overcome crisis phenomena. The experience of most countries shows that the presence of such a mechanism has a beneficial effect on depositors’ confidence in the banking system and contributes to the long-term growth of household deposits.

The essence of the system is to create a procedure for quickly returning their savings to depositors in the event of an insured event (revocation of a license, suspension of activities or reorganization) of the bank.

Such payments are made from the funds of a special fund formed by contributions from banks that participate in the system and/or the state (if the state acts as a guarantor).

Quite often, the CER is created, controlled, and financed with the direct participation of the state. In some countries, the creation of CERs is carried out by banks on a voluntary basis, and the fund is replenished exclusively from insurance premiums of system participants.

In the Russian Federation, SSV is regulated by Law No. 177, within the framework of which the procedure for insurance of deposits and payment of compensation to depositors, the composition of participants in the system, their powers and area of ​​responsibilities are approved.

To ensure the functioning of the savings account in the Russian Federation, a special state body has been created - the Deposit Insurance Agency, the main function of which is to ensure the operation of the system and pay compensation for deposits.

The Russian system works as follows:

• The DIA assumes all obligations to pay the deposits of the insolvent bank;
• deposits are compensated from the funds of the deposit insurance fund, which are paid at the DIA office, through authorized banks or by mail in the amount determined by law;
• Payments of compensation begin within 14 working days from the moment the bank’s license is revoked.

Such payments are made from the Agency’s special fund, formed from insurance premiums of banks that participate in the system, income from the Agency’s investment activities and state contributions.

If the deposit amount exceeds the maximum amount of compensation established by the Law, the person in whose favor the deposit is made can receive the remaining amount at the next stage of the bank’s liquidation procedures.

Deposit insurance is carried out on the basis of the Law, therefore the depositor is not required to enter into an individual agreement with the DIA.

What is the insured amount for deposits in 2018

Until recently, the state guarantee extended to deposits of no more than 700,000 rubles.

Since the end of 2014, the amount of insurance payment has doubled and today the maximum amount of compensation for deposits that a person in whose favor the deposit is issued can receive upon the occurrence of an insured event is one million four hundred thousand rubles.

What deposits are not insured?

In accordance with Law No. 177, funds of individuals and individual entrepreneurs placed on current, card and deposit accounts are subject to compensation, except for the accounts:

• to bearer;
• held in trust;
• placed in subsidiary banks and representative offices outside our country;
• money, circulation of which is provided exclusively in electronic form;
• funds in the accounts of legal specialists intended for conducting professional activities;
• nominal, pledge and escrow accounts (unless otherwise provided by law).

General provisions

As of May 23, 2016 the number of banks participating in the CER is 830 financial institutions, 178 credit institutions are excluded from the system, and 7 banks do not have the right to accept deposits.

Ensuring the operation of the CIC and paying compensation to depositors is carried out by a specially created state body - the Deposit Insurance Agency.

The Agency is managed by the Central Bank and the Government of the Russian Federation, whose representatives are on the Board of Directors of the organization, and the property is formed from the insurance contributions of the participants of the CER.

Income from investment activities of the structure, funds received during liquidation procedures of insolvent banks, and state contributions.

In order to ensure the operation of the DIS, the Agency establishes the procedure for calculating insurance premiums, maintains a register of participating banks of the DIS, controls the filling of the deposit insurance fund, including through contributions from banks, and also manages the funds of the deposit insurance fund.

The financial basis of the CER is the compulsory deposit insurance fund, through which compensation for deposits is made and expenses associated with the organization of payments are covered.

The amount of contributions under the Law is established by the DIA, and today it is 0.1, 0.12 or 0.25 percent of the average amount of deposits for a calendar quarter. The tariff applied to a financial institution is determined by the Central Bank based on the cost of attracted deposits during the reporting period, based on the principle: the more expensive the attracted resources, the higher the rate.

This approach makes it possible to reduce the costs of banks that have a restrained policy in attracting deposits (as in Sberbank or Rosselkhozbank, for example) and shift the costs to financial institutions that attract expensive resources that are more risky for the bank and the DIS as a whole.

In general, the main source of funding for the fund is contributions from participants, and if the fund’s funds are insufficient, compensation payments for deposits are made from the federal budget or loans from the Central Bank.

Payment procedure and conditions

When concluding a deposit agreement, the person in whose favor the deposit is made automatically has the right to receive compensation of up to 1.4 million rubles as soon as possible. in the event of an insured event or revocation of the bank’s license.

Payment of insurance compensation begins no later than 14 days from the date of the insured event and is carried out, as a rule, through an agent bank accredited by the Agency in the method chosen by the depositor - cash, money order or postal order.

To receive a refund, the person in whose favor the deposit was made simply needs to contact the agent bank, presenting a passport and filling out an application.

Calculation features

It should be noted that regardless of the number and amount of deposits, the amount of compensation is subject to 100% of deposits plus accrued interest, in this case:

• calculation of the amount of compensation is carried out on the date of occurrence of the insured event;
• in one bank, the person in whose favor the deposit is made may receive no more than the maximum amount of compensation established by law;
• if deposits are made in various financial institutions, then in each credit institution the amount of compensation is up to 1.4 million rubles;
• payment of compensation for deposits in the currency of another state (in dollars, euros, etc.) is carried out at the official rate of the Central Bank on the date of the event;
• if there is a loan, payment of compensation is made minus the existing debt of the person in whose favor the deposit is made to the bank.

The effectiveness of the functioning of CERs, in most cases, directly depends on the degree of state participation in them. In almost all countries, the state not only controls the system, but also participates in its financing, which is especially important at the stage of filling the fund and during a crisis.

The Russian CER is no exception and, like most countries in the world, guarantees 100% compensation of deposits within the established upper limit. Based on these principles, we can say that the system is focused primarily on protecting the rights and interests of small investors.

The banking crisis makes investors worried about the safety of their money. Many people have a question about how the law on deposit insurance works, whether there is a high probability that the money will be returned if the bank experiences force majeure circumstances. Insurance of deposits of individuals is provided by the state, however, the bank where an individual has a deposit must be a participant in the system for guaranteeing the return of finances to individuals in legal relations. To quickly return your money, you need to know the nuances of the deposit insurance system.

What is deposit insurance

To avoid panic among the population associated with disruptions in the work of financial and credit organizations, the cessation of their activities, the state introduced insurance of deposits in banks, that is, guaranteed amounts of compensation that are paid to the depositor. World practice shows that state insurance of deposits of individuals is a reliable and effective mechanism that reduces the socio-economic consequences of the crisis in the banking sector.

The mechanism is needed to build the trust of individuals in banks, encouraging them to invest in “long-term” deposits designed for more than one year. However, since the Central Bank of Russia (CBR) prefers not to close banking structures, but to carry out a health-improving set of measures to correct the crisis situation, in which individuals always have access to their finances, the insurance system is less relevant than 3-5 years ago.

How does the deposit insurance system for individuals work?

The agreement on attracting savings must state that the bank participates in a program to protect the savings of the population implemented by the state. This gives individuals confidence that in the event of force majeure circumstances, when the financial structure cannot fulfill its obligations to depositors, the latter are guaranteed to receive their money from the Agency that provides deposit insurance. The Agency’s operating mechanism is based on Russian legislation, which details the rights of depositors to receive compensation.

Regulatory framework

Compensation for insurance amounts is carried out in accordance with Federal Law No. 177 of December 23, 2003 “On the insurance of deposits of individuals in banks of the Russian Federation,” which determines the norms, rules, and amount of obligations for which insurance of deposits of individuals is carried out. According to this legal act, any physical entity of legal relations with the bank can submit a petition to the authorized body for reimbursement of funds that the bank is unable to pay for its obligations.

The state guarantees citizens a refund under the following conditions:

• The financial and credit organization is included in the register of banks participating in the program for compensation of funds on deposits. According to the law, when concluding an agreement to attract finance, any banking structure must inform an individual about its presence in the register.
• The contract for attracting financial resources is valid on conditions that fall within the definition of an insured event.

Deposit Insurance Agency

The State Corporation Deposit Insurance Agency is the regulator of the relationship between a financial organization and individuals. The agency operates based on 177-FZ, and the amount of funds that can be used to compensate individuals is more than 85 billion rubles. The Agency receives this property from bank transfers (any financial structure to obtain a license from the Central Bank must transfer a certain percentage to the compulsory deposit insurance fund), or from investments.

The agency is actively working on procedures related to the bankruptcy of banking institutions, carrying out rehabilitation measures for their rehabilitation, and providing support to voluntary investors. The Board of Directors of this state corporation includes representatives of the Central Bank and senior government officials, which provides the maximum guarantee of return of money according to the requirements of depositors.

Banks included in the state deposit insurance system

On the DIA website you can see that the following financial structures are in the register of participants:

• Sberbank of the Russian Federation;
• VTB 24;
• Alpha Group;
• Promsvyazbank;
• Raiffeisenbank;
• Bank Rosgosstrah;
• Renaissance Credit;
• Rosselkhozbank;
• Russian standard.

According to the DIA, the register includes more than 850 financial organizations. If a private depositor, when concluding a bank deposit agreement, is not presented with official data that the financial institution insures deposits of individuals, then he is faced with fraudsters. Any bank must necessarily participate in the program for compensating deposits to individuals.

Insurance of bank deposits - features of the procedure

According to 177-FZ, any funds deposited by an individual subject of legal relations to a bank, with the opening of a bank account, to acquire benefits in the form of interest payments, as well as interest that accrues during the use of this money by a financial institution, are considered insured. Such deposits include both ruble and foreign currency savings of individuals. The maximum amount of deposit insurance, according to the amendment dated December 19, 2014, is set at 1.4 million rubles. The following types of financial assets are considered insured and are subject to return:

• sent to various deposits, time and on demand, in rubles and foreign currency;
• placed on accounts providing for the payment of salaries, benefits, pensions to physical subjects of legal relations;
• intended for the needs of private entrepreneurs;
• placed on the accounts of guardians and trustees for the transfer of funds to their wards;
• available in escrow-type accounts, which are intended for transactions of individuals for the purchase and sale of real estate;
• located on debit physical plastic media issued by this financial institution.

What funds of individuals are not subject to compulsory insurance?

You should be aware that the legislation provides for exceptions under which certain types of amounts of money stored by objects of legal relationships in banks are not subject to compensation, and insurance of deposits of individuals does not apply to them. These include:

• Amounts in the accounts of citizens providing legal assistance to private individuals (lawyers, notaries), if this money is spent on work needs.
• Bank deposits issued to bearer.
• Finances that an individual transfers to a bank for investment under trust management.
• Money held in foreign branches of Russian banks.
• Funds for the transfer of which a debit account cannot be opened (electronic payments).
• Additional amounts of money in nominal metal impersonal accounts.

Insurance cases

According to the law, insurance of individual savings is carried out in the following cases:

• If the Central Bank revokes the license issued by it from the bank. The register participant is subject to the introduction of external management and no longer has the right to work with individuals and legal entities, manage finances, and fulfill its obligations to clients.
• When the Central Bank introduces a moratorium on creditor claims. This situation arises during bankruptcy proceedings of a credit institution for the purpose of debt restructuring. Monitors the implementation of the DIA moratorium; this state can last 12 months, after which a decision is made either to terminate it or to extend it for six months.

Revocation of CBR license

The main bank withdraws the license issued by it to carry out banking activities from the financial organization under the following circumstances:

• if the bank exceeds its authority and carries out risky operations to issue large non-performing loans;
• reduction of the authorized capital below the amount stated in the constituent documents;
• if the financial structure purposefully and constantly does not comply with the requirements of the Central Bank of the Russian Federation;
• if it is impossible to satisfy the claims of creditors and claims of clients regarding the bank’s obligations;
• when identifying fraudulent money laundering schemes or providing incorrect reporting data;
• failure to comply with court decisions;
• critical reduction in cash balances below 2%.

The day after the license is revoked, the Central Bank introduces external management to put the financial structure in order and its subsequent liquidation. Individuals may apply for reimbursement of funds deposited with a given banking organization 2 weeks after recording the occurrence of this insured event, provided that their funds were insured.

Introduction of a moratorium by the Central Bank on satisfying the claims of bank creditors

This measure is temporary in relation to a financial institution and is established to streamline its functioning. The moratorium gives individuals the right to receive not only the invested amount, but also interest on it upon the occurrence of an insured event. Interest compensation occurs separately; they are calculated based on 2/3 of the key rate of the Central Bank of the Russian Federation.

You need to contact the agency involved in payments 2 weeks after the moratorium begins, but no later than 2 weeks before it ends. If the investor has not applied to the DIA for good reasons within the specified time frame, then the money can be issued to him on an individual basis upon presentation of the necessary documents. When the moratorium ends, there are two options:

• the bank's license is revoked and it ceases to exist;
• The sanitary measures taken have a positive effect on the financial condition of the organization, and it continues to operate as before.

Insurance compensation for deposits

According to the law on deposit insurance for an individual participant in legal relations, when applying to the DIA, 100% of the insurance is paid on the deposit. If a private individual had several deposits in a given organization, then the amount of contributions is recalculated in proportion to each deposit. However, you should know that the insurance law provides for a maximum amount of compensation of 1.4 million rubles, and if the amount for all deposits collectively exceeds this figure, then compensation for the difference in contributions is determined in court according to the list of 1st priority creditors.

Compensation for escrow accounts is made in 100% volume, if it does not exceed the amount of 10 million rubles. Payments for this insured event are made by the Agency in a separate manner, after reviewing all documents for opening this account. Money can be received directly at the DIA branch, through agent banks appointed by the fund, or by mail.

Payment amount

The legislation establishing the rules for insurance of individuals separately stipulates the situation in which the owner of the deposit simultaneously had a deposit in a banking organization and took out a loan there, which, by the time the insured event occurred, was not fully repaid. The amount of compensation will be calculated as the difference between the debit and credit account, taking into account all amounts of obligations of the debtor and creditor. Insurance premiums are paid on an individual basis.

Reimbursement currency

Compensation for deposits is made in rubles, therefore, for all deposits in foreign currency, recalculation is carried out according to the Central Bank exchange rate for a given currency at the time of the insured event. If the deposit is placed in foreign currency, then interest on foreign currency deposits is calculated based on data from the Central Bank on average interest rates for this type of bank deposit product.

If a moratorium has been introduced, and you do not want to receive compensation in rubles for a foreign currency deposit, then you can be patient and wait for the end of the sanitary measures. The financial institution will begin operating as before and will satisfy claims on deposits in proportion to deposit agreements. However, in such a situation, there is a possibility that the depositor will not receive the amount paid at all if the bank ceases to exist after the end of the moratorium.

How to receive insurance payments on deposits

In order not to suffer as a result of the bankruptcy of a banking institution and to return funds, the following steps should be taken:

• Check the list of insured funds established by law and find out whether your savings are included in them.
• On the DIA website, make sure that this bank is a participant in the DIA;
• From the media, bank notifications, messages to depositors, find out which agent bank was appointed by the DIA to make payments.
• Choose the most convenient way to receive compensation payment - cash, non-cash transfer, postal transfer.
• Write an application for insurance payment to the agent bank and come there in person with the required documents.
• Within 3 working days, receive the required amount using the specified method.
• If the amount of the deposit exceeds the maximum rate of insurance payment, then to compensate for the difference that insurance does not cover, go to court along with other creditors of the bank.

Documents for submission to the DIA

Compensation is paid by the DIA upon presentation of the following documents:

• Applications from the investor in the prescribed form. If you choose to receive money by mail, the application will have to be certified by a notary.
• Passport or other identification document, about which there is data in the general register of clients of the banking organization.
• When applying not to the investor himself, but to his representative, a power of attorney certified by a notary is required for the right to demand payments.
• If the individual who entered into the agreement on its opening, and the investor’s heir, applies for payment of compensation, then it is required to submit documents evidencing his right to inheritance.

Video

Most Russian residents trust their money to banks. But before investing money, it is worth paying attention to whether our deposits will be insured. This means whether we will receive compensation in the event of liquidation of the organization. But there are also some features in which we can lose less if the bank’s license is taken away.

In recent days, licenses have been revoked from banks such as Smolensky Bank and Master Bank. This shows us that this article is more than relevant and in demand.

Don't invest in one bank

The state insures deposits up to one million four hundred thousand. Even if you have four deposits in one bank for a total amount of one million four hundred, then you will receive your money in full. But if you have more deposits than indicated above, then you still get the maximum, that is, one million four hundred thousand. The same is considered if you invest money in one bank, but in different branches, you will receive a maximum of one million four hundred thousand rubles from all accounts from all branches. One name - one bank.

The law also stipulates that you receive all insured money in rubles. Even if you invested in a foreign currency, a recalculation will be made and you will be returned in rubles in the equivalent at the exchange rate on the day the foreign currency license to the ruble was revoked.

This also applies to the money on your accounts receivable and salary cards. They are considered as deposits and are also covered by deposit insurance.

Interest on deposits

The essence of investing money in a bank is to increase it and protect it from inflation.

The law stipulates that the funds you deposit into your account plus interest are insured. On the day the bank's license was revoked, interest accrual stops. And you can withdraw your money, including the interest that you managed to accrue from the day of your deposit until the day the license was revoked. It’s easy to calculate how much interest you’ve added using the online calculator on the bank’s website. Specify the day of the deposit and the expiration date (license revocation) of the deposit.

For what money cannot you get a refund in 2018-2019?

Not all funds can be insured. Insurance agents indicate the following list:

1. Current accounts of individual entrepreneurs and legal entities.
2. Funds in trust management.
3. Deposits located abroad.
4. Electronic money, such as WebMoney and Yandex.money.
5. Metal bills.
6. Income and savings accounts.
7. Bonus program, if there was one, and you participated in it.

Insurance payment

As soon as depositors find out that their bank, where their hard-earned money lies, has had its license revoked, people begin to panic, they rush headlong to the office and begin to raise a wave, riot, and storm the offices so that their deposits will be returned to them. This behavior will not lead to anything good. For now, if this happens, you can only watch the news and wait.

The minimum waiting period for at least some news from the insurance company is a week or seven days. During this period, the DIA publishes information in the press about which of the remaining banks will pay the insurance amounts.

Such a bank will be an agent bank to which the insurance company transfers insurance premiums. This bank has many branches, so you shouldn’t rush to the bank branch on the first day, stand in line and pick up your money. You have every legal right to write an application for withdrawal of funds within two years after the license of your bank is revoked.

To write an application, you will definitely need a passport. You can receive the money in your hands on the day you write your application. But if suddenly you do not agree with the amount of compensation, you will have to go to the DIA with the necessary documents. The bank will not be able to help you on this issue.

Deposit after insurance

If you are lucky and you received the entire deposit amount in full, then you should not be upset or lose faith in banks. There are some recommendations from professionals to invest money in the bank again, but for a short deposit period, for example, for a quarter at good interest rates.

As they say in economics, money should work, and not be in one place and lie uselessly. There is also a second option: buy something, treat yourself to a new car, for example. It’s better to make a down payment for a mortgage, because there is no better investment than in real estate.

What's happening to the bank

Any bank, in addition to depositors, also has property and creditors. Next, the bank's property is auctioned off. Everyone who has financial requirements stands in the so-called queue. The money given for the property is distributed to creditors in equal percentages. But as always, the logical question is: will there be enough funds to pay off all the bank’s debts? Only the DIA can answer this question.

Depositors whose deposit amount was over one million four hundred thousand often act as creditors. They are included with the other creditors in the committee that monitors the auction.

Many depositors try to protect their deposits from the onset of various banking force majeure circumstances in the form of a crisis and take care of the insurance procedure in advance. At the same time, many are interested in the question of how exactly the insurance procedure takes place, as well as the main nuances of the return of funds in the event of bankruptcy of a financial organization. This article will discuss the standard mechanisms of the deposit insurance procedure in banking organizations.

Deposit insurance mechanism

The standard deposit insurance system significantly increases the confidence of citizens who are going to invest their own funds in bank deposits. That is why the state is taking all measures to improve the insurance system and provide optimal conditions for preserving depositors’ savings.

Currently, the insurance procedure has been significantly simplified - the depositor only needs to make a certain amount of deposit to a banking institution and draw up a standard deposit agreement. In this case, there is no need to draw up a special additional insurance contract - the entire procedure of interaction with the deposit insurance agency (DIA) is completely undertaken by the selected financial institution. The bank makes quarterly insurance contributions to this agency in the amount of 0.1% of the total deposit amount.

Thus, the insurance is not paid by the depositors themselves, but directly by the financial institution.

Insurance compensation

In the event of an insured event, the depositor has the right to receive insurance compensation from the deposit insurance agency. Moreover, in accordance with current legislation, in 2018 the amount of insurance paid is 100% of the deposit amount, but this payment has a limitation - the depositor receives compensation of no more than 1,400,000 rubles. This procedure is carried out in accordance with federal law clause 2 art. 11 Federal Law No. 177-FZ.

According to this law, the maximum amount of standard insurance compensation for all deposits and accounts of individuals for which an insured event occurred after December 29, 2014, the amount of payments has been significantly increased to 1.4 million rubles.

Moreover, this rule also applies to individual entrepreneurs.

Actions upon the occurrence of an insured event

The basic procedure for paying insurance compensation is regulated Art. 12 Federal Law No. 177-FZ. This article provides that the deposit insurance agency, within 1 week from the date of receipt of the register from the banking organization, undertakes to publish in the publication "Bulletin of the Bank of Russia" an information message about the designated place and time for accepting applications from citizens to whom insurance is due. Additionally, each depositor must be sent a repeated message within a month about the possibility of insurance payments.

Reasons for refusal of compensation

Not all investors can receive compensation payments - there are a number of reasons why insurance compensation is not possible.

Grounds for refusal may include the following cases:

• Deliberate actions of depositors that are aimed at the immediate occurrence of an insured event;
• Commitment of an intentional crime by the policyholders, as well as by the person for whom the insurance contract was drawn up for the purpose of receiving compensation payments;
• Provision by the policyholder of false information about the insurance procedure.

Thus, the reasons for refusal of compensation payments are any illegal actions of the insurer and the policyholder aimed at obtaining compensation.

How does the Russian deposit insurance system work?

In the Russian Federation, the compulsory bank deposit insurance system is a special measure of social support for citizens. This program is regulated by a special provision of the law “On insurance of deposits of individuals in banks of the Russian Federation” No. 177-FZ dated 23. To implement and implement this provision, a special organization called the DIA (deposit insurance agency) was created. This system deals with the return of insurance and organizes all actions for payment to the insurer.

If the banking system in which the deposit was made goes bankrupt, the depositor must submit an identification document to the deposit insurance agency with a special application.

Deposit Insurance Agency ASV

A special agency involved in deposit insurance was created in 2004 with the aim of ensuring compensation for deposits in the event of any insured events stipulated by the contract. In addition to paying insurance compensation, the organization is engaged in the following activities:

• Maintains a standard register of banks that are the main participants in the insurance procedure;
• Provides high-quality control over the replenishment and maintenance of the main fund, where all insurance premiums go;
• Manages the funds contained in the insurance fund.

Additionally, the agency maintains a master register of non-state pension funds.

The organization monitors the timeliness and quality of receipt of special guarantee contributions.

What deposits are insured by the state in 2018?

In accordance with legislative norms, the following types of deposits are subject to the insurance procedure:

1. Special demand deposits, time deposits, as well as all types of foreign currency deposits;
2. All current accounts of clients - this includes plastic cards, scholarships, and pensions;
3. Finances held in individual accounts of entrepreneurs;
4. Funds held in the accounts of trustees, as well as guardians - the beneficiaries in this case are their wards.

How to check if a deposit is insured?

Some banks are unfair to depositors and use double-entry bookkeeping to create unofficial accounts of certain types of deposits. In such cases, insurance compensation is not paid to clients. Therefore, before creating a deposit, you need to make sure whether it is on the balance sheet of the financial institution. To do this, you need to perform the following steps:

1. It is necessary to save the main agreement, as well as all existing receipts for payments made;
2. You should definitely visit the personal account of the bank where the deposit is open and check whether your own deposit is registered with the financial institution;
3. After opening a deposit, you must call the call center and, through the operator, make sure that there is a confirmed deposit amount in your personal account;
4. It is necessary, once every few months, to take bank statements confirming the availability of the main documentation - bank details, as well as information about your own account and the amount of funds on it;

The presence of standard documentation will allow you to prove the existence of a deposit in the event that the bank has committed fraudulent actions against the depositor.

Deposit insurance compensation amount

Insurance of deposits of individuals in Russian banks is an obligation established for all banks by Russian law. This measure was developed by the government back in 2003, but became relevant only after the first major crisis in 2008, when many Russian citizens lost their savings due to the collapse of financial and credit organizations. Now, thanks to bank deposit insurance, it has become possible to return the accumulated money even in the event of bankruptcy or revocation of the bank’s license. True, with some limitations, which we will definitely write about in this article. Also today we will consider the main issues related to insurance payments under the terms of 2017.

The insurer on behalf of the state is an agency (association) for insurance of deposits of individuals. Mandatory deposit insurance is provided for by Federal Law No. 177 of December 23, 2003. Let us say right away that this law protects the rights of ordinary citizens and does not include insurance of deposits of legal entities in banks.

Up to what amount are deposits insured in 2017?

The amount of deposit insurance in 2017 was not changed; it remains 1.4 million rubles, taking into account capitalized interest.

The change in the amount was considered at the initiative of German Gref, president of the board of Sberbank - he proposed limiting the total amount of payments (across all banks) per person to 3 million, citing DIA statistics on the type of depositors, 23% of whom deliberately carried their savings right before the revocation of the license for increasing benefits. However, his proposal was rejected.

The amount for which bank deposits are insured is valid separately for each credit institution. That is, if you had several deposits in bankrupt banks, you will receive payments from each of them - up to 1.4 million rubles.

The program also applies to . The maximum amount of deposit insurance in foreign currency in 2017 is calculated at the exchange rate valid on the day of license revocation, converted into rubles.

If the guaranteed return amount of the deposit in 2017 does not cover the amount of investment, the client retains the right to claim the remaining amount along with the claims of creditors.

Who pays if an insured event occurs on bank deposits?

The state corporation DIA insures deposits of individuals, and it is also responsible for paying insurance compensation. To make it more convenient for clients to receive insurance compensation for their deposit, the DIA can make payments through agents.

In 2017, the Central Bank personally takes control of the activities of the DIA, and only reliable state banks, their dozens of systemically important ones, are appointed as agents.

Interesting statistics: in 2015, payments to depositors were 2 times higher than the amount received from banks as insurance premiums. Since it is not profitable for the state to operate at a loss, it was decided to raise insurance rates for banks and use these funds to make a profit.

Does bank deposit insurance cover plastic cards?

State insurance of deposits of individuals equates the account of any debit card to a deposit, therefore, if you are used to keeping savings on a bank card, you can rest easy: your money is protected by the deposit insurance system.

The official website of the DIA contains information that the protection of deposits by the state does not apply to prepaid cards, depersonalized metal compulsory health insurance accounts and nameless ones.
Should I agree to the bank’s offer to transfer the deposit to another credit institution?

We strongly advise you not to agree to such offers. Deposit amount. insured by the state in 2017, is paid only on deposits formalized by the agreement. When transferring the deposit, this agreement will be considered terminated, you will lose the right to compensation, because the transfer of the deposit may never take place - the bank no longer has this money, it is almost bankrupt. Afterwards, the transfer will be in the stage of “stuck” payments, and you are unlikely to get your deposit back, since stuck payments are the last in line for payment. It is much better to leave everything as it is, be first in line for a refund, and calmly return your money through the DIA within 14 days.

Also, you should not agree to early termination with subsequent partial payment - in this way the bank simply avoids paying interest. Most clients think that it is better to get at least something than nothing, but this is only an illusion of choice.

How long can I claim compensation under the deposit insurance program?

The law provides for time limits limited to the complete liquidation of the bank. It takes about 2 years from the moment the license is revoked to the final liquidation.

If you had a deposit with a bank whose license was revoked in 2014, you can still apply for a refund. Just keep in mind that for deposits opened before December 29, 2014, other insurance conditions were in effect. Do you know what amount was insured by the state for deposits in 2014? It was exactly 2 times lower, and amounted to only 700,000 rubles.

How does the payment process work?

Information about the revocation of a bank’s license is published on the website of the Central Bank of the Russian Federation, in the press, and on the website of the bankrupt bank itself. If the bank was not assigned (the DIA pulls out some banks with additional capitalization, changes management, etc. - that is, it tries to “recover”), then the case is considered an insurance case. The same sources publish the name of one or more agent banks that will make payments to depositors.

To receive insurance compensation, you will need to apply with your passport to the specified agent bank, write an application, and based on the register, you will be paid into your account within 3 days (but not earlier than 2 weeks after the occurrence of the insured event).