How deposit protection works
When deposits become unavailable, the Bank Guarantee Fund repays covered deposits up to the statutory coverage level.
Deposits become unavailable when:
- for banks: the competent authority (KNF) suspends the institution’s operations and appoints a receiver, and either KNF files a bankruptcy petition with BFG or BFG files for bankruptcy under resolution proceedings,
- for cooperative savings and credit unions: the competent authority (KNF) suspends the institution’s operations and appoints a receiver, and either KNF files a bankruptcy petition with BFG or BFG files for bankruptcy under resolution proceedings,
- for branches of non-EU credit institutions: a Polish court recognises a foreign insolvency decision concerning the institution or its assets located in Poland.
Contact
Telephone number
22 583 09 42
Toll-free helpline
800 569 341
E-mail
kancelaria@bfg.pl
