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Information for Depositors

Information for Depositors

What is Covered by the Deposit Guarantee Fund What is Not Covered by the Deposit Guarantee Fund How to get Compensation if your Bank Fails Depositor Information Sheet Agent Banks

The Deposit Guarantee Fund (DGF) guarantees to pay out deposits to individuals, cash or non-cash money in Ukrainian or foreign currency received by a bank from a depositor (or received to an account of a depositor) under a deposit agreement or account agreement, including interests accrued thereon.

During the period of martial law and three months following its termination or cancellation, the DGF will reimburse each depositor in full, including interest accrued.

Three months after the termination or cancellation of martial law, the guaranteed amount of reimbursement including interest accrued, shall be UAH 600,000.

The interest accrual on deposits shall be terminated on the starting date of bank resolution by the DGF (in the case that the National Bank of Ukraine decides to revoke the banking license and liquidate the bank on the grounds stipulated in part two of Article 77 of the Law of Ukraine ‘On Banks and Banking’ - on the date of the decision to revoke the banking license and liquidate the bank).

The DGF shall guarantee the payout to a depositor of a bank that has subsequently been reorganized, on the same terms and conditions as before such reorganization.

Deposits transferred to the bridge bank shall be guaranteed by the DGF on the same terms that had existed as of the date of their transfer.

The DGF shall start disbursing the refunds to depositors in Ukraine domestic currency in the order and in the priority, established by the DGF, no longer than 20 days (for the banks with over 500,000 accounts in the database—no longer than 30 days) from the date of the commencement of the bank resolution procedure.

Reimbursement of foreign currency deposits shall be made in the national currency of Ukraine after the amount of a deposit is recalculated at the official foreign exchange rate of UAH set by the National Bank of Ukraine as of the end of the day preceding the starting day of bank resolution procedure and provisional administration by DGF pursuant to Article 36 of thе Law of Ukraine “On Households Deposit Guarantee System”.

In case of the decision of the National Bank of Ukraine to revoke the banking license and liquidate the bank on the grounds listed in part two of Article 77 of the Law of Ukraine “On Banks and Banking”, the funds from foreign currency deposit shall be refunded in the domestic currency of Ukraine after the conversion of the deposit amount at the official exchange rate of National Bank of Ukraine as of the end of the day preceding the starting date of the bank liquidation procedure.

DGF terminates the payout of guaranteed deposits on the day of endorsing the bank liquidation balance sheet.

PLEASE NOTE that in accordance with the second part of Article 77 “Revocation of the banking license and bank liquidation” of the Banking Law the National Bank of Ukraine has the right to revoke the banking license if:

1) it has established that the documents submitted by the bank to obtain a banking license contained inadequate information;

2) the bank has not had any banking transaction within a year from the day it was issued a license;

3) repeated breach by a bank of the laws covering the issues of anti-money laundering/combatting terrorist financing and the proliferation of weapons of mass destruction was detected.

Please be aware that in case of bank liquidation in accordance with part two of Article 77 of the Law of Ukraine “On Banks and Banking”, provisional administration is not introduced.

The DGF shall not pay out any funds:

1) put into trust management of a bank;

2) of less than UAH 10;

3) raised by the bank from the issuance of the bank savings certificate or the bank certificate of deposit;

4) lodged to a bank deposit by a person, which is a related party of the bank or has been such a party within one year prior to the date of the decision of the National Bank of Ukraine to categorize such a bank as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law Of Ukraine “On Banks and Banking”—within one year prior to the date of the said decision);

5) lodged to a bank deposit by a person, which has provided the bank with professional services as an auditor, an appraiser, in the event that less than one year has passed since the date of the termination of the provision of services till the date of the decision of the National Bank of Ukraine to categorize the bank in question as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law of Ukraine “On Banks and Banking”—one year prior to the date of the said decision);

6) held by a substantial shareholder in the bank;

7) in respect of bank deposits, under which depositors receive interest from the bank under contracts concluded on conditions not matching the current market conditions within the meaning of Article 52 of the Law of Ukraine “On Banks and Banking” or enjoy other financial benefits from the bank;

8) under a deposit in a bank, if the said deposit is used by the depositor as the means to secure the performance of another liability to the same bank, in the full amount of the deposit until the date of the performance of liabilities;

9) with subsidiaries of a foreign banks;

10) deposits in banking metals;

11) placed on accounts garnished by court decision;

12) deposits the payout of which are suspended pursuant to the Law "On Prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of the proliferation of weapons of mass destruction".

13) on the accounts of legal entities.

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

During the period of martial law and three months following its termination or cancellation, the DGF will reimburse each depositor in full, including interest accrued at the end of the day before the date when the bank resolution procedure was launched.

Three months after the termination or cancellation of martial law, the guaranteed amount of reimbursement including interest accrued, shall be UAH 600,000.

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 end of the day preceding the starting day of bank resolution procedure and provisional administration by the DGF.

WHERE CAN YOU GET YOUR REIMBURSEMENT AND WHAT DOCUMENTS TO PRESENT

The DGF disburses the guaranteed deposits 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 “Uriadovyi Kurier” and available at the telephone “Hotline”: 0-800-308-108.

WHEN DO YOU HAVE TO MAIL YOUR APPLICATION FORM

In case of any disputes regarding the receipt of the reimbursement, depositors must file a written request.

The payment of a guaranteed reimbursement to the heirs of depositors is made on the ground of an individual written application to the DGF.

In this regard, the legitimate heir 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);
notarized copy of a certificate of inheritance.

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

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

OVER WHAT PERIOD OF TIME CAN YOU GET THE GUARANTEED AMOUNT OF REIMBURSEMENT

The depositor can get the reimbursement starting from the first day of payout announced on the DGF official website. The covered deposits are paid out throughout the bank liquidation period, which shall last for no longer than three years (in case of liquidation of a systemically important bank – no longer than five years). DGF terminates the payout of guaranteed deposits on the day of endorsing the bank liquidation balance sheet.

Deposits in _________________________ (name of the bank) are guaranteed by	The Deposit Guarantee Fund (hereinafter - DGF)
Coverage limits	The DGF shall reimburse every bank depositor’s funds in the deposited amount gross up interest as of the end of the day preceding the starting date of the bank resolution by the DGF, but the amount in question shall not exceed the deposit reimbursement ceiling set as of this date, regardless of the number of deposits held with one bank. In case the National Bank of Ukraine decides to revoke the banking license and liquidate a bank on the grounds set in part 2, Article 77 of the Law of Ukraine ‘On Banks and Banking’, the DGF shall guarantee to each depositor of this bank the reimbursement of funds held on deposits gross up interest as of the end of the day preceding the starting date of the bank liquidation procedure, but not exceeding the deposit reimbursement ceiling set as of the date of this decision regardless of the number of deposits in one bank. Three months after the termination or cancellation of the martial law in Ukraine imposed by Decree of the President of Ukraine #64/2022 dated February 24, 2022 ‘On the Imposition of Martial Law in Ukraine’ approved by Law of Ukraine # 2102-IX dated February 24, 2022 ‘On Approval of Decree of the President of Ukraine “On the Imposition of Martial Law in Ukraine” (hereinafter – the martial law), the guaranteed amount of reimbursement shall be at least UAH 600,000. During the period of the martial law in Ukraine and three months following its termination or cancellation, the DGF will reimburse each depositor in full, including interest accrued at the end of the day before the date when the bank resolution procedure was launched, except as provided in Part IV of Article 26 of the Law of Ukraine ‘On the Household Deposit Guarantee Scheme’. According to the part 4 of the Article 26 of the Law of Ukraine "On Household Deposit Guarantee System" the DGF shall not pay out any funds: 1) put into trust management of a bank; 2) of less than UAH 10; 3) certified by a saving, deposit certificates; 4) funds lodged to a bank deposit by a person, who is a related party of the bank or has been such a party within one year prior to the date of the decision of the National Bank of Ukraine to categorize such a bank as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law of Ukraine “On Banks and Banking” within one year prior to the date of the said decision); 5) funds lodged to a bank deposit by a person, who has provided the bank with professional services as an auditor, an appraiser, in the event that less than one year has passed since the date of the termination of the provision of services till the date of the decision of the National Bank of Ukraine to categorize the bank in question as insolvent (or, in case of the decision of the National Bank of Ukraine to revoke a banking license and liquidate a bank on the grounds specified in part two of Article 77 of the Law of Ukraine ”On Banks and Banking” - one year prior to the date of the said decision); 6) held by a substantial shareholder in the bank; 7) in respect of bank deposits, under which depositors receive interest from the bank under contracts concluded on conditions not matching the current market conditions within the meaning of Article 52 of the Law of Ukraine ”On Banks and Banking” or enjoy other financial benefits from the bank; 8) under a deposit in a bank, if the said deposit is used by the depositor as the means to secure the performance of another liability to the same bank, in the full amount of the deposit until the date of the performance of liabilities; 9) with subsidiaries of a foreign banks; 10) deposits in banking metals. 11) funds placed on accounts garnished by court decision 12) deposits the payout of which are suspended pursuant to the Law "On Prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of the proliferation of weapons of mass destruction".
If the depositor has more than one deposit account in one the bank	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 the ceiling limit of the reimbursement for deposits set as of the said date regardless of the number of deposits in one bank in accordance with Article 26 of the Law of Ukraine “On Households Deposit Guarantee System”.
Payout Deadline	The DGF shall commence 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. During the provisional administration the depositor becomes entitled to receive the guaranteed amount of deposit at the expense of the DGF within the marginal guaranteed amount under contracts whose validity has expired as of the day of the commencement of the bank resolution procedure by the DGF, and bank account agreements. The DGF shall have a right not to include in the calculation of the guaranteed amount of deposit under bank account agreements before obtaining full information on transactions made by the payment system (domestic and international). 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).
Currency of payment	Payouts of foreign currency deposits shall be 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 end of the day preceding the starting day of insolvent bank resolution by the DGF and the exercise of the provisional administration by the DGF in accordance with Article 36 of the Law of Ukraine «On Households Deposit Guarantee System». Іn case of the decision of the National Bank of Ukraine to revoke the banking license and liquidate the bank on the grounds listed in part two of Article 77 of the Law of Ukraine «On Banks and Banking‖ the DGF», payouts of foreign currency deposits shall be 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 end of the day preceding the starting date of the bank liquidation procedure.
Deposit Guarantee Fund contact information	17, Sichovykh Striltsiv St., Kyiv, 04053, Ukraine, Hot line 0-800-105-800, (044) 333-36-55
More details at	http://www.fg.gov.ua
Acknowledgement receipt	_______________________________ (signature of the depositor)
Additional information	The terms ‘deposit’ and ‘depositor’ shall have the meaning provided for in the Law of Ukraine ‘On the Household Deposit Guarantee Scheme’. The DGF shall guarantee deposits of private entrepreneurs/sole traders regardless of the date when the account was opened, beginning from the January 1, 2017 regarding banks that have been assigned insolvency status after January 1, 2017. The DGF terminates the payout of guaranteed deposits on the day of endorsing the bank liquidation balance sheet, and no later than the next day announces on its official website the termination of payout of guaranteed reimbursement amounts by the DGF. The interest accrual on deposits shall be terminated on the day of the commencement of the bank resolution procedure by the DGF (in case of the decision made by the National Bank of Ukraine to revoke a banking license and liquidate the bank on the grounds specified in part two of Article 77 of the Law of Ukraine ”On Banks and Banking” — on the date of the decision to revoke the banking license and liquidate the bank).

The list of the agent banks connected to the DGF Automated Payout System:

- АТ КБ «ПРИВАТБАНК»*: https://privatbank.ua/;

- АТ «Ідея Банк»: https://www.ideabank.ua/;

- АТ «ПРАВЕКС БАНК»: https://www.pravex.com.ua/;

- АТ «КРЕДОБАНК»: https://kredobank.com.ua/;

- АБ «УКРГАЗБАНК»*: https://www.ukrgasbank.com/;

- АТ «ПУМБ»*: https://www.pumb.ua/;

- АТ «ТАСКОМБАНК»: https://tascombank.ua/;

- Акціонерний банк «Південний»*: https://bank.com.ua/;

- АТ «УНІВЕРСАЛ БАНК»: https://www.universalbank.com.ua/;

- АТ «Ощадбанк»: https://oschadbank.ua;

- АТ «БАНК ІНВЕСТИЦІЙ ТА ЗАОЩАДЖЕНЬ»: https://www.bisbank.com.ua/;

- ПАТ «КБ «АКОРДБАНК»: http://www.accordbank.com.ua/.

*the bank also pays out deposits remotely