Deposit insurance in Russia and its features

Very often we hear in the commercials the phrase: "Deposits are insured." But not everyone understands this topic and its specifics in the Russian market. Paying your hard earned money to the bank, you should know in advance what you can expect if you lose your license (bankruptcy), and 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 with respect to the funds deposited with them in bank deposits. Let's return to the past and find out how this system appeared.

History

For the first time the insurance of deposits of the population appeared in 1933 in the USA. The reason for the emergence of CERs was the economic crisis of the 1930s. The maximum amount of insurance compensation was 5000 dollars. Over time, the limit increased to 100 thousand, and in 2008 reached the bar of 250 thousand $. Deposit insurance is mandatory for all countries that are members of the European Union. And in general, there are more than one hundred CERs in more than 100 countries.

Insurance of deposits in Russia

Is there a CER in the Russian Federation? Surely declare that yes. In 2003, an appropriate law emerged, and a year later an agency was opened, the main function of which was to ensure the optimal operation of the insurance system. It maintains a register of banks registered in the system, pays reimbursement, forms an insurance fund, etc. Any bank that operates on the territory of the Russian Federation and accepts deposits from the population participates in the CERs. And without fail. If we consider deposit insurance in 2013, then the total number of banks that provide this service is 891 (according to the CER register).

What does not apply to CERs?

- On deposits in branches outside the territory of the Russian Federation.

- On accounts used for entrepreneurial activities.

- Contributions to bearer.

- Accounts of notaries, lawyers, etc., open for professional purposes.

- Electronic money.

- Metal accounts.

Amount of insurance compensation

If the insurance situation has come, then depositors receive back all invested funds (but not more than 700 thousand rubles). The currency deposit is recalculated into rubles at the rate of the Central Bank on the day of the occurrence of the insurance situation. If the depositor had more than one account in the bank, the amount of compensation will be calculated by the total amount, but not exceeding the established limit. Separately, I want to say about the insurance of deposits in several organizations. Let's say a person has accounts in 2 different banks. Can receiving insurance compensation in one of them affect the amount of insurance compensation in another? Of course not. In each case, a separate calculation will be made. By the way, since the spring of 2013, the Russian government has legislated the insurance of deposits to 1 million rubles. That is, 300 thousand have been added to the previous limit.

Getting compensation

To receive compensation, the depositor (or his representative with a power of attorney) must apply to the agent bank or the relevant agency that is authorized to make payments and to write a statement. The term of its submission starts from the time of the occurrence of the insurance situation and lasts until the bank's bankruptcy process is over.