The Bank Deposit Guarantee Fund is the only institution in Romania whose mission is to guarantee the deposits deposited with credit institutions participating in the Fund, as well as to pay compensation to the guaranteed depositors, within the guarantee ceiling and other conditions established by law, when deposits become unavailable.
The Bank Deposit Guarantee Fund guarantees deposits, in any currency, with credit institutions participating in the Fund, within the limits and under the conditions provided by law. The exception from the payment of compensation are deposits falling into the unguaranteed categories, as set out in the list of deposits excluded from the guarantee, as provided by Law 311/2015 on Deposit Guarantee Schemes and the Bank Deposit Guarantee Fund.
Deposits held by individuals or legal entities with institutions participating in the Fund are guaranteed by law by the Bank Deposit Guarantee Fund up to a ceiling of 100,000 euro, in lei equivalent.
Deposits made up by individuals resulting from:
- real estate transactions relating to immovable property for residential purposes;
- the event of retirement, dismissal, from the situation of invalidity or death of the depositor;
- insurance benefits or compensation for criminal offenses or wrongful convictions.
They are covered up to the equivalent in lei of EUR 100,000, for a period of 12 months from the date on which the amount has been credited to the account with the Bank or from the date on which the deposits can be legally transferred to another credit institution.
The amounts falling into the three categories mentioned above shall be categorized on the basis of supporting documents submitted by the customer to the bank.
In the event that deposits with a credit institution participating in the Fund become unavailable, the FGDB will ensure the payment of compensation, up to the guarantee ceiling. Compensation payments are made only in lei.
By compensation, according to the law, we mean the amount that the Fund pays to each guaranteed depositor for unavailable deposits, regardless of their number, up to the guarantee ceiling and under the conditions provided for by Law 311/2015 on deposit guarantee schemes and the Bank Deposit Guarantee Fund.
The level of compensation is calculated as follows: the sum of all guaranteed deposits that a person holds with that credit institution (at the time they became unavailable) is reduced by the total amount of outstanding liabilities that he has up to that date with the credit institution.
The Compensation is paid in national currency, irrespective of the currency of the deposit(s).
Deadline for starting payment compensation is 7 working days from the date the deposits became unavailable.
The document "DEPOSITORS INFORMATION" contains the "list of deposits excluded from the guarantee" and the "form for information provided to depositors" in accordance with Law 311/2015 on deposit guarantee schemes and the Bank Deposit Guarantee Fund.
