Due to lots of miscommunication and difficulties between the central bank, FBME Bank and the staff of the bank it was resolved that a part of the administration of the Deposit Guarantee Scheme managed by the central bank of Cyprus to compensate FBME Bank customers is done by FBME Bank employees.
After almost two years of uncertainty it is good for almost all involved that the first step in the liquidation of the bank is taken. The first step in liquidation of a bank is the activation of the deposit guarantee scheme. The next phase will be the regular liquidation of the bank where assets and liabilities are matched.
Customers of the bank who want to apply for the DGS need to visit FBME´s main office in Nicosia to get their documents approved. Be careful what you give the bank employees because your documents can be misused by the bank in court to show evidence of a proper administration. It is therefore recommended that you make a statement of the exact documents you present to FBME in this process. Especially when the funds on your account exceed 100.000 Euro.
Customers of the bank who need assistance with the recovery process can find more information on this website under the article ´FBME Bank Cyprus´. Our services are on the basis of no cure no pay and therefore are invoiced afterwards.
Those with more than 100.000 Euro on the account can claim the surplus over 100.000 Euro during the regular liquidation process. The steps in this liquidation process is outlined in the law. When disagreement over specific actions arise the European Court steps in to protect the bank customers interest. We are here to guide you through all these processes. Don´t wait before it is too late to file your claim at the Cyprus DGS.