How the deposit insurance system works

What is a deposit insurance system?

The State Deposit Insurance System (SSS) was created specifically to protect the rights of bank depositors.

All banks that attract private individuals' money are required to enter the CER and pay contributions to the Mandatory Deposit Insurance Fund (FOSF). The insurance indemnity is paid from this fund when the license is revoked from the bank.

If suddenly the fund's funds are not enough for all payments, they will be replenished at the expense of the federal budget or bank loans. This guarantees the financial stability of the CER.

The work of the CER is conducted by the Deposit Insurance Agency (DIA). The Agency operates under the control of the Government and the bank, whose representatives are part of its governing bodies.

The DIA pays compensation to depositors, maintains a register of banks participating in the CERS, monitors the formation of the Mandatory Deposit Insurance Fund and manages its funds.

In what case can I expect to receive payments?

Insured events are the revocation of a license from a bank that is part of the CER, or the introduction of a moratorium on satisfying creditors' claims in it.

Upon the occurrence of an insured event, depositors of any bank that is part of the CER automatically receive the right to pay insurance compensation.

In some cases, you can count on increased insurance compensation. For example, if the money was in the escrow account for the purchase of real estate.

Are all deposits insured?


The deposit insurance system protects the money of individuals, including individual entrepreneurs (sole proprietors), both Russians and foreigners.

Representatives of small businesses can also count on compensation. But only if they are registered in the unified register of small and medium-sized businesses.

All registered deposits and accounts are insured:
  •  term deposits and demand deposits, including foreign currency;
  •  current accounts for bank card payments;
  •  personal savings certificates;
  •  funds in nominal accounts of guardians and trustees opened in favor of wards;
  •  settlement and deposit accounts of sole proprietors.
The money on escrow accounts is also insured if they are open for settlements under real estate purchase and sale transactions or shared-equity construction contracts.

When else can I expect an increased insurance payout?

You are entitled to receive a refund of a certain amount if the money in the account appeared after:
  •  sold an apartment, a house, a cottage or a plot of land on which there were some buildings;
  •  issued an inheritance;
  •  received money by court decision;
  •  you have been paid compensation for damage to life, health or property;
  •  you have been transferred severance pay, compensation or other payments under an employment contract;
  •  maternity capital, social benefits or allowances have been transferred to you;
  •  you were given a grant in the form of a subsidy.
But an increased payout is only allowed if the money was credited to the account no earlier than three months before the bank's license was revoked or a moratorium on deposit payments was imposed.

Insurance does not protect:
  •  bearer savings certificates;
  •  funds transferred to banks for trust management;
  •  electronic money and money deposited without opening an account;
  •  deposits in foreign branches of Russian banks;
  •  subordinated deposits;
  •  funds in nominal accounts (with the exception of those accounts that the guardians and trustees have opened in favor of the wards), collateral accounts and escrow accounts, if they are not created for real estate transactions;
  •  funds in the accounts of lawyers and notaries, if the accounts are open for professional activity;
  •  funds on depersonalized metal accounts;
  •  money of legal entities, with the exception of small businesses.

Where can I get money?

For each insured event, the DIA selects several agent banks - it is through them that you can receive insurance compensation. As a rule, agents are appointed by banks that have branches in the same localities as a bank that has been deprived of a license.

The addresses of the agent banks' branches can be found the day before the start of payments on the DIA website, by calling the Agency's and agent banks' hotlines or in the media.

Individuals can receive cash payments or ask to transfer funds to an account with any other operating bank. For individual entrepreneurs and small businesses, money is always transferred to a checking account.

How fast can I get a payout?

Agent banks begin payments two weeks after the occurrence of an insured event.

You must come to the agent bank with a passport or other identity card and write an application for compensation (you can download it in the "Forms of documents" tab). You will be provided with an extract from the register about your deposits and loans, as well as the amount of insurance compensation.

If you agree with this amount, the money will be given to you or transferred to the account within three working days.

And if I disagree with the registry data?

You can file a statement of disagreement and submit additional documents that will be able to substantiate your requirements to the bank.

The Bank will make a decision on the application within 10 days.

How much will I be paid if I had both a deposit and a loan?

If the amount of the deposit is more than the amount of the debt, the DIA will pay you the difference between the amount of the deposit and the amount of the debt. But you will be able to receive the rest of the deposit only after you repay the loan.

If the deposit is less than the loan, then the insurance amount will be paid to you after repayment of the debt. It is impossible to repay even part of the loan at the expense of a deposit in a bank with a revoked license — this is prohibited by law.

How much will I get if I opened accounts in different branches of the same bank?

They are considered a deposit in the same bank. The DIA will sum up all your assets (deposits and accounts). Based on this total amount, you will receive an insurance payout, but no more than the specified amount.

I had a deposit in euros. How will the payout amount be calculated?

Deposits in foreign currencies are converted into the currency of the country at the bank's exchange rate on the day of revocation of the license.

What if the deposit amount is more than a certain amount?


You have the right to demand a full refund. Fill out the appropriate section in the compensation application.

If a moratorium is imposed, you can receive the balance of the deposit after the moratorium is lifted.

If a bank's license is revoked and bankruptcy proceedings are initiated, its assets will be sold off — and these funds will also be directed to payments to depositors and creditors of the bank. The DIA will represent your interests during the liquidation. It is not required to confirm your right to claim on deposit balances.

And if I can't personally come to the branch of the agent bank?


If you found out about an insured event far from your city, for example, during a long business trip or military service, you can send an application by mail.

A copy of the passport or other certifying document must be attached to the application. To receive a payment of more than a certain amount, the signature on the application must be certified by a notary.

In this case, you can also receive compensation remotely by postal transfer or to an account in any existing bank that is part of the CER. Individual entrepreneurs are reimbursed only in a non-cash order.