We guarantee the funds deposited by a depositor in bank accounts or accounts held at a credit union (in both PLN and foreign currencies), where the depositor is a party to the agreement.
Funds up to the equivalent of EUR 100,000 in PLN are fully guaranteed.
Find out more: https://bfg.pl/en/for-depositors/deposit-guarantee-principles/
The guarantee covers natural persons and,
in the case of banks or foreign bank branches legal entities, non-legal entities granted legal capacity by law, school savings unions, employee loan and relief funds, parent councils
In the case of credit unions NGOs (as per the Public Benefit and Volunteer Work Act), church or religious union entities with legal personality, cooperatives, trade unions, housing associations
The Bank Guarantee Fund covers deposits held in:
- Polish banks (excluding BGK and, generally, mortgage banks)
- Cooperative credit unions (SKOK)
- Branches of foreign banks outside the EU, unless another system applies that meets the same level of protection
Check the list at https://bfg.pl/en/for-depositors/entities-covered-by-guarantees/
When in doubt, contact your bank or credit union directly.
Important: Branches of EU-based institutions in Poland are covered by their home country’s deposit guarantee scheme (EU-wide limit: EUR 100,000).
Deposits are disbursed within 7 working days from the day when the Polish Financial Supervision Authority (KNF) suspends activity, appoints a receiver, and files for bankruptcy (or BFG does so during resolution) of a bank. The same rules apply for credit unions, while for foreign branches it is 7 days after Polish court recognition of a foreign bankruptcy ruling.
How to recover money from a suspended bank or credit union?
The film presents the process of disbursement of funds guaranteed by the BFG in the event of a bank or credit union suspension. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec nisi risus, interdum id elementum non, cursus ut enim. Duis eu scelerisque est, quis condimentum ante.
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BFG ensures the safety of deposits held in banks and credit unions (SKOKs). In the event of an authorized institution filing a motion for bankruptcy of a bank or SKOK, BFG pays out customers their savings. Is your money safe? Check the current list of banks and SKOKs covered by BFG guarantees.
Watch the videoFrequently asked questions:
- natural persons,
- legal persons,
- organisational units without legal personality but possessing legal capacity,
- school savings associations,
- employee assistance-and-loan associations,
- parent’s councils.
- natural persons,
- NGOs within the meaning of the Act on Public Service Activity and Volunteering,
- organisational units of a church or religious organisation which are legal persons,
- cooperatives,
- trade unions,
- tenants’ communities,
- the State Treasury,
- Narodowy Bank Polski (National Bank of Poland),
- banks, foreign banks and credit institutions within the meaning of the Act – Banking Law
- cooperative savings and credit unions and the National Association of Cooperative Savings and Credit Unions,
- the Bank Guarantee Fund,
- financial institutions within the meaning of Regulation 575/2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012,
- investment firms within the meaning of Regulation 575/2013 and ‧recognised third-country investment firms referred to in Article 4 paragraph 1 point 25 of the said Regulation,
- persons and bodies unidentified by a bank or a cooperative savings and credit union, as the case may be,
- domestic and foreign insurance undertakings, as well as domestic and foreign insurance and reinsurance undertakings referred to in the Act on the Business of Insurance and Reinsurance,
- investment funds, investment fund companies, foreign funds, managing companies and branches of investment companies referred to in the Act on Investment Funds and Management of Alternative Investment Funds,
- open pension funds, employee pension funds, general pension societies and employee pension societies referred to in the Act on the Organisation and Operation of Pension Funds
- local government units,
- public authorities of any other Member State or of a third country, in particular, central governments, regional and local government units of these countries.
- other depositor claims arising under the bank account agreements;
- depositor claims arising under the bank financial settlements pursued by the bank;
- depositor claims arising under bank of bank securities issued prior to 2 July 2014.
- other depositor claims arising under the account agreements;
- depositor claims arising under the bank financial settlements pursued by the credit union.