Very often we hear the phrase: “Deposits are insured” in commercials. But not every one of us understands this topic and its specifics on the Russian market. Giving your hard-earned money to the bank, you should know in advance what you can count on in case of loss of a license (bankruptcy), as well as how to minimize your losses. In this case, there is a deposit insurance system (CER), which is a mechanism for protecting the interests and legal rights of individuals regarding the money they have placed in bank deposits. Let's go back in time and find out how this system appeared.
History
The first deposit insurance appeared in 1933 in the United States. The cause of CERs was the economic crisis of the 30s. The maximum amount of insurance compensation was $ 5,000. Over time, the limit increased to 100 thousand, and in 2008 reached the bar of $ 250 thousand. Deposit insurance is mandatory for all countries within the European Union. But in general, there are its own CERs in more than 100 countries.
Deposit Insurance in Russia
Are there CERs in the Russian Federation? Confidently say yes. In 2003, a corresponding law arose, and a year later an agency was opened, whose main function is to ensure the optimal functioning of the insurance system. It maintains a register of banks registered in the system, pays reimbursements, forms an insurance fund, etc. Any bank operating in the territory of the Russian Federation and accepting deposits from the population participates in CERs. And without fail. If we consider deposit insurance in 2013, the total number of banks providing this service is 891 (according to the CER registry).
What does CER not apply to?
- On deposits in branches outside the territory of the Russian Federation.
- To accounts used for business activities.
- Bearer deposits.
- Accounts of notaries, lawyers, etc., open for professional purposes.
- Electronic money.
- Metal bills.
The amount of insurance compensation
If the insurance situation has occurred, then the depositors get back all the invested funds (but not more than 700 thousand rubles). The foreign currency contribution is recalculated in rubles at the Central Bank rate on the day the insurance situation occurs. If the depositor had more than one account in the bank, then the amount of compensation will be calculated by the total amount, but not higher than the established limit. Separately, I want to say about deposit insurance in several organizations at once. Suppose a person has accounts in 2 different banks. Can receiving insurance compensation in one of them affect the size of insurance compensation in the other? Of course not. In each case, a separate calculation will be made. By the way, since the spring of 2013, the government of the Russian Federation has legislatively approved deposit insurance up to 1 million rubles. That is, 300 thousand were added to the previous limit.
Receiving compensation
To receive compensation, the depositor (or his representative with a power of attorney) must contact the agent bank or the relevant agency that is authorized to make payments and write a statement. The term for filing it begins from the time the insurance situation occurs and lasts until the bankruptcy process is over.