For violation of the rules prescribed in the law, the Bank evokes licenses from violating banks. What if your bank turns out to be unreliable?
For what exactly can a bank's license be revoked?
The Bank revokes the license if the organization systematically violates the requirements of the laws and regulations of the Bank. For example, the bank has almost no funds of its own, it does not issue money from deposits, does not process customer payments, does not submit reports on time, or provides inaccurate information. Or conducts operations for which he does not have a license.
Banks are only revoked their licenses if there are signs of fraudulent activity and financial problems that could cause depositors to lose money. License revocation is a way to protect bank customers.
All grounds for revocation are listed in the Federal Law "On Banks and Banking Activities".
License revocation should not be confused with revocation. Cancellation of a license always occurs at the request of the owners of the bank, who decided to liquidate it. In such cases, the bank itself is able to pay off creditors and depositors.
I have a bank account and a deposit. Will I get my money back?
You can save money if the bank's license is revoked if the bank is a member of the deposit insurance system (DIS), which is implemented by the Deposit Insurance Agency (DIA). Read more about the work of the DIA in the article "How the Deposit Insurance System Works".
The DIA's work is regulated by the Federal Law “On Insurance of Individual Deposits in Banks”.
If a bank offers you to make a deposit as an individual, then it must have an appropriate license from the Bank (a license to attract deposits from individuals). Then the bank is automatically a member of the CER, and your deposit will be insured. If the bank does not have this license, it is breaking the law.
Information that the deposit is insured can be found on the website and at the bank's offices. You can check this information on the websites of the Bank and the DIA.
How does the insurance work?
According to the law, all deposits of individuals, individual entrepreneurs and small businesses registered in banks in $ or foreign currency are insured. If, by the time the license was revoked, the bank had already accrued interest on your deposit, then this money will also be insured.
At the same time, there is a limit on the amount that the DIA will return to you - a maximum of $ 200000 for all deposits and accounts in one bank. The foreign currency deposit is compensated to you in rubles at the exchange rate on the day when the bank's license was revoked.
When the total amount of your money in the bank is greater, the DIA will return a proportional part of each deposit and account, but in the end - no more than $ 200000.
If you want to deposit more than $ 200000, open deposits in different banks. The amount in each of them should not exceed $ 200000 (taking into account the interest accrued in the future).
In some cases, you can count on an increased insurance payment - up to $ 150000:
The money was in an escrow account that you opened for the sale and purchase of real estate or for settlements under contracts for participation in shared construction.
Please note: the money in the escrow account is insured only for a certain period. The insurance is valid from the date when the documents were received (for registering the sale and purchase transaction), and until three working days from the date of registration of rights (or refusal to register rights) in the Unified State Register of Rights to Real Estate. If in the same bank, in addition to escrow, you had a deposit or account, then they will not affect the limit of $ 150000. They are compensated additionally.
Large amounts ended up on the account due to special circumstances. For example, money was inherited or received from the sale of housing. Either subsidies, social payments, insurance benefits, compensation for damage to life, health or property, payments by court decision came to the account.
But in these cases, compensation of up to $ 150000 is possible only on condition that the money was credited to the account no earlier than three months before the bank's license was revoked or a moratorium on payments on deposits was introduced.
More information about the increased payments can be found in the article "How the deposit insurance system works".
The amount in excess of the state insurance payment can be obtained in the course of bankruptcy proceedings (one of the stages of bankruptcy proceedings) or bank liquidation. To return the rest of the money, you need to fill out a special box in the application for compensation.
What does the insurance not cover?
Not all the money you deposit with the bank is protected. Government insurance does not cover:
How do I get insurance?
Information about the revocation of the bank's license is posted on the official website of the Bank, on the website of the Deposit Insurance Agency, in the Unified Federal Register of Bankruptcy Information, as well as in the media. DIA publishes information for depositors on its website in the section "Insured events".
Procedure:
How quickly will the money be paid out?
By law, you must receive insurance compensation within 3 working days after you send the application and other necessary documents to the DIA (or to the agent bank). But not earlier than 14 days from the date of the insured event. Payments continue until the completion of the bankruptcy proceedings or liquidation. If you did not have time to submit an application before the completion of the liquidation of the bank, but you had a good reason, contact the DIA to extend the deadline for filing.
What to remember when opening a deposit?
First of all, make sure that the bank you have chosen is a CER member (information about this is on the DIA website) and has a license from the Bank of Russia.
Documents that you will receive when opening an account:
Read more in the article "How to open a deposit in the bank".
I have a loan from a bank with a revoked license. Do I need to pay it?
If the bank, where you took out a loan, revoked the license, this does not mean that you do not owe anything to anyone. From the moment the license is revoked and until the bankruptcy proceedings are completed (or until the bank is liquidated), you are required to repay the loan.
On the special portal of the DIA there is information on how to pay off a loan from any bank with a revoked license. On the portal you can:
Be sure to save all information about payments: receipts, bank details, screenshots. Do not delay repayment of the loan, taking advantage of the fact that the bank's license was revoked - this will badly affect your credit history, which means that it will be more difficult for you to get a new loan.
I have both a deposit and a loan in the same bank - what will happen to them?
If you had both a deposit and a loan in a bank with a revoked license, then the insurance compensation (up to $ 200000) will be paid minus the loan debt to the bank. The rest will be paid after the loan is repaid. It will not be possible to repay the loan at the expense of the funds that are in the deposit in the same bank - this is prohibited by law.
Borrower Memo:
For what exactly can a bank's license be revoked?
The Bank revokes the license if the organization systematically violates the requirements of the laws and regulations of the Bank. For example, the bank has almost no funds of its own, it does not issue money from deposits, does not process customer payments, does not submit reports on time, or provides inaccurate information. Or conducts operations for which he does not have a license.
Banks are only revoked their licenses if there are signs of fraudulent activity and financial problems that could cause depositors to lose money. License revocation is a way to protect bank customers.
All grounds for revocation are listed in the Federal Law "On Banks and Banking Activities".
License revocation should not be confused with revocation. Cancellation of a license always occurs at the request of the owners of the bank, who decided to liquidate it. In such cases, the bank itself is able to pay off creditors and depositors.
I have a bank account and a deposit. Will I get my money back?
You can save money if the bank's license is revoked if the bank is a member of the deposit insurance system (DIS), which is implemented by the Deposit Insurance Agency (DIA). Read more about the work of the DIA in the article "How the Deposit Insurance System Works".
The DIA's work is regulated by the Federal Law “On Insurance of Individual Deposits in Banks”.
If a bank offers you to make a deposit as an individual, then it must have an appropriate license from the Bank (a license to attract deposits from individuals). Then the bank is automatically a member of the CER, and your deposit will be insured. If the bank does not have this license, it is breaking the law.
Information that the deposit is insured can be found on the website and at the bank's offices. You can check this information on the websites of the Bank and the DIA.
How does the insurance work?
According to the law, all deposits of individuals, individual entrepreneurs and small businesses registered in banks in $ or foreign currency are insured. If, by the time the license was revoked, the bank had already accrued interest on your deposit, then this money will also be insured.
At the same time, there is a limit on the amount that the DIA will return to you - a maximum of $ 200000 for all deposits and accounts in one bank. The foreign currency deposit is compensated to you in rubles at the exchange rate on the day when the bank's license was revoked.
When the total amount of your money in the bank is greater, the DIA will return a proportional part of each deposit and account, but in the end - no more than $ 200000.
If you want to deposit more than $ 200000, open deposits in different banks. The amount in each of them should not exceed $ 200000 (taking into account the interest accrued in the future).
In some cases, you can count on an increased insurance payment - up to $ 150000:
The money was in an escrow account that you opened for the sale and purchase of real estate or for settlements under contracts for participation in shared construction.
Please note: the money in the escrow account is insured only for a certain period. The insurance is valid from the date when the documents were received (for registering the sale and purchase transaction), and until three working days from the date of registration of rights (or refusal to register rights) in the Unified State Register of Rights to Real Estate. If in the same bank, in addition to escrow, you had a deposit or account, then they will not affect the limit of $ 150000. They are compensated additionally.
Large amounts ended up on the account due to special circumstances. For example, money was inherited or received from the sale of housing. Either subsidies, social payments, insurance benefits, compensation for damage to life, health or property, payments by court decision came to the account.
But in these cases, compensation of up to $ 150000 is possible only on condition that the money was credited to the account no earlier than three months before the bank's license was revoked or a moratorium on payments on deposits was introduced.
More information about the increased payments can be found in the article "How the deposit insurance system works".
The amount in excess of the state insurance payment can be obtained in the course of bankruptcy proceedings (one of the stages of bankruptcy proceedings) or bank liquidation. To return the rest of the money, you need to fill out a special box in the application for compensation.
What does the insurance not cover?
Not all the money you deposit with the bank is protected. Government insurance does not cover:
- bearer deposits (including certified by a savings certificate or bearer passbook);
- funds on the accounts of lawyers and notaries, if the accounts are open for professional activities;
- deposits in branches of banks located abroad;
- funds transferred to banks in trust management;
- funds placed on unallocated metal accounts;
- funds transferred to "e-wallets" (electronic money);
- funds placed by individual entrepreneurs in subordinated deposits;
- funds placed by individuals in the bank's securities (shares, bonds, bills of exchange and others).
How do I get insurance?
Information about the revocation of the bank's license is posted on the official website of the Bank, on the website of the Deposit Insurance Agency, in the Unified Federal Register of Bankruptcy Information, as well as in the media. DIA publishes information for depositors on its website in the section "Insured events".
Procedure:
- Find out where you can get insurance. DIA will determine the list of agent banks - those banks that will pay you insurance. The list will be posted on the DIA website and on the doors of your former bank, and will be published in the press one day before the start of payments.
- Fill out an application for the agent bank. You can apply for compensation from the moment the payments start until the day the bank is liquidated. This process has been going on for about a year. Please note that there may be queues in the first days of payment. To apply for compensation to an agent bank, you only need a passport and an application completed in a special form. It will be given to you at the agent bank or posted on the bank's website.
If you cannot come to the bank yourself (you are sick, live in another country or there is no agent bank branch in your city), you can send an application by mail, but then the documents must be certified by a notary. If you are the heir of an investor, you must also provide documents that confirm your right to inheritance. - Choose the form of compensation. If you had a deposit for individuals, you can receive compensation both in cash and by bank transfer. If you are an individual entrepreneur, money can only be received to a current account.
How quickly will the money be paid out?
By law, you must receive insurance compensation within 3 working days after you send the application and other necessary documents to the DIA (or to the agent bank). But not earlier than 14 days from the date of the insured event. Payments continue until the completion of the bankruptcy proceedings or liquidation. If you did not have time to submit an application before the completion of the liquidation of the bank, but you had a good reason, contact the DIA to extend the deadline for filing.
What to remember when opening a deposit?
First of all, make sure that the bank you have chosen is a CER member (information about this is on the DIA website) and has a license from the Bank of Russia.
Documents that you will receive when opening an account:
- a copy of the bank deposit agreement (account);
- a receipt order with the bank's notes on depositing money (or a payment order from another bank to transfer money to the depositor's account, or another document that confirms the deposit of money to the bank's account).
Read more in the article "How to open a deposit in the bank".
I have a loan from a bank with a revoked license. Do I need to pay it?
If the bank, where you took out a loan, revoked the license, this does not mean that you do not owe anything to anyone. From the moment the license is revoked and until the bankruptcy proceedings are completed (or until the bank is liquidated), you are required to repay the loan.
On the special portal of the DIA there is information on how to pay off a loan from any bank with a revoked license. On the portal you can:
- Pay a loan online with a commission. Through the portal, you can make loan installments the next day after the bank's license is revoked. If you transfer money from a bank card, the commission will be from 50 rubles to 1% of the payment amount, if using an electronic wallet - 1.5%.
- Find out where to make a payment without commission. For each bank with a revoked license, a list of addresses of offices, terminals and cash registers of agent banks has been published, where payments are accepted without commission. When paying for a loan at these points, you will need a passport, the number of the loan agreement, the date of its conclusion and details: the BIK of the bank and the number of the account to which you transferred the money before the license was revoked.
- Specify other payment methods. You can also repay the loan through any existing bank. This will require new payment details. They can be found on the DIA website.
With this method of payment, you will be charged a commission. Its size must be clarified with the bank through which you plan to make a payment.
Be sure to save all information about payments: receipts, bank details, screenshots. Do not delay repayment of the loan, taking advantage of the fact that the bank's license was revoked - this will badly affect your credit history, which means that it will be more difficult for you to get a new loan.
I have both a deposit and a loan in the same bank - what will happen to them?
If you had both a deposit and a loan in a bank with a revoked license, then the insurance compensation (up to $ 200000) will be paid minus the loan debt to the bank. The rest will be paid after the loan is repaid. It will not be possible to repay the loan at the expense of the funds that are in the deposit in the same bank - this is prohibited by law.
Borrower Memo:
- Revoking a license does not mean that you can not pay on the loan.
- You cannot offset a loan using funds from a deposit in the same bank.
- The DIA may transfer your loan to another bank, where the loan repayment rules may differ. But the key terms of the agreement (for example, the interest rate or the term for which the loan was issued) will remain the same - the bank cannot unilaterally change them.
