Deposit Guarantee Scheme Poland

Information Leaflet – A Deposit Guarantee Scheme Reimburses a Limited Amount to Compensate Account Holders Whose Bank in Poland Has Failed


Deposit Guarantee Scheme Poland: The Polish Bank Guarantee Fund (BFG) guarantee scheme protects eligible deposits held at domestic banks, cooperative savings and credit unions, and branches of foreign banks.

Activation of the Bank Guarantee Fund in Poland: The Polish Supervisory Authority may suspend the operations of a domestic bank, cooperative savings and credit union, or branches of a foreign financial institution when:

  • the assets of the financial institution are insufficient to cover its liabilities – according to a balance sheet statement compiled at the end of the reporting period, or
  • for the reasons directly related to the financial standing of the bank, it fails to meet its liabilities with respect to depositors within the scope of deposit guarantee limits, or
  • a takeover of the failed bank by another bank with the consent of the acquiring bank is planned, or
  • when the Polish Financial Supervision Authority files a petition to declare bankruptcy of a bank at a relevant court. In the latter case, the fulfilment of the guarantee condition and disbursement of guaranteed funds takes place.

Secured Deposit Limit: Since 31 December 2010, the level of coverage in all the countries being EU Member States has amounted to EUR 100,000 (or the equivalent thereof in a domestic currency).

Additional Insured Coverage: In special cases, for a limited period, the depositor being a natural person is entitled to additional insured coverage in the amount over and above the PLN equivalent of EUR 100,000. The payment of insured guaranteed funds exceeding the limit of the PLN equivalent of EUR 100,000 follows at the depositor request. The depositor funds derived from different sources are covered by the guarantee up to the difference between the PLN equivalent of EUR 200,000 and the sum of the remaining depositor funds (albeit not more than the equivalent of PLN 100,000), within 3 months from the date of funds being credited in the account.

Claim Filing Procedure: The Bank Guarantee Fund announces the claim filing procedures and the dates of the reimbursement of guaranteed deposits in newspapers of national circulation. This same information will also be posted on the BFG website.

Claim Submission Timeframe: Guaranteed deposits can be collected at the Bank Guarantee Fund office for a period of 5 years after the day of fulfilment of the guarantee condition, after first having submitted the requisite guaranteed deposit reimbursement application form.

Repayment Timeframe: As soon as the Bank Guarantee Fund is triggered and all the conditions have been fulfilled, the responsible administrator starts reimbursement in accordance with the resolution passed by the management board.  The receivership or receiver or entity contracted by BFG to carry out the reimbursement of guaranteed deposits commences the execution of the reimbursement in accordance with the resolution passed by the Fund Management Board, within 7 working days from the day of fulfilment of the guarantee condition.

Repayment Conditions: Once the receivership of a bank or the receiver of a credit union or the entity contracted by the Fund to reimburse guaranteed deposits has concluded the reimbursement, guaranteed deposits can be collected at the office of the Fund within a period of 5 years from the day on which the fulfilment of the guarantee condition occurred (requisite documents can be submitted to the Fund by correspondence). After that time, claims pursuant to the deposit guarantee expire by limitation.

DGS Claim Rejections: The Act on the Bank Guarantee Fund, Deposit Guarantee Scheme and Resolution (Article 22 paragraph 1) stipulates that not all account holders at banks and credit unions are entitled to depositor status and thus qualify for reimbursement under the BFG.

Scheme Architecture: domestic banks, cooperative savings and credit unions, and branches of foreign banks participate on the Polish Bank Guarantee Fund. Their financial contributions to the fund allow for fast action is case of banking failure and financial distress. The fund currently holds an estimated 3.8 Billion Euro in reserves.


Need Help To Submit Your DGS Claim or to Substantiate a Rejected DGS Claim? Contact us Today…

  • Visit: www.depositguaranteeclaim.com/free-case-evaluation
  • Call: 00357 25 057 544 or 001 646 513 2855
  • Email: [email protected]
  • Complete the contact form below:

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