You have accumulated a small amount. These funds are intended for purchase, like an expensive trip, car or rainy day. You do not initially plan to invest these funds.
You have put all the funds into a card account or deposit and want to ensure the greatest security for your savings. The state has provided a deposit insurance mechanism. Let's see what guarantees they can offer you and analyze them sensibly.
Bank deposit insurance in modern Russia
The deposit insurance system is legally defined in more than a hundred countries of the world - it is a specially formed fund that makes a quick payment of funds from the deposit. Moreover, this is done when, for some reason, the banking institution has its license revoked. Thus, in order to receive money, in the event of the ruin of a financial institution, you do not have to wait for the completion of all procedural rules that accompany bankruptcy. State insurance of bank deposits is an analogue of the insurance fund.
We turn to the legal side of the issue. In the Russian Federation, there are a number of legislative acts designed to regulate bank deposit insurance. The federal law entered into force relatively recently - in December 2003 after approval by the Federation Council. The principles underlying this document: licensed banking institutions are required to deduct insurance premiums, maximum reduction of depositor's risks, transparency of action, funds are accumulated from bank contributions. According to the law, an insured event occurs at the time of cancellation of a banking institution license or when a moratorium on payment to creditors is introduced.
In order to regulate and manage the system, a state-owned deposit insurance corporation, DIA, was created. Deposit insurance is made in the "default" mode, exclusively for deposits of individuals (accounts of persons in the legal status of individual entrepreneurs are not provided). The subtlety lies in the fact that the maximum amount of deposit insurance is 700 000 rub. But there is also a nuance pleasant for the investor - if the savings exceed the amount, the rest can be stored in another bank, where you can count on the payment of the DIA. Deposit insurance extends to the list of deposits that is subject to protection: term deposits and demand deposits (foreign currency deposits are no exception), the so-called current accounts attached to plastic cards. It is necessary to take into account the moment that the accumulated interest is insured
Insurance Compensation Procedure
If, nevertheless, the credit institution has gone to the bottom, you will need to contact the State DIA Corporation. Deposit insurance provides the applicant with the following documents:
1. A completed application for payment in the form determined by the DIA.
2. A document (identity card, rights, and so on) on the basis of which an agreement was concluded with a grief bank (the details of the document must be entered in the bank register). If for some reason you have replaced a document, you must always notify the bank.
Upon receipt of documents issued a receipt on the insurance amount payable. The insurance indemnity is 3 days. But at least two weeks must pass from the moment the license is revoked from the banking institution.
Conclusion
Only general points are listed upon receipt of insurance compensation. But it is worth noting that in the event of a massive collapse of the banking system, you should not rely on the DIA. Deposit insurance is a relatively young and fragile institution, according to 2011 data, the fund is “only” 153 billion rubles, and the volume of deposits of Russian citizens exceeded 10 trillion rubles.