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Bank Guarantee Fund

Mandatory deposit guarantee scheme

Deutsche Bank Polska S.A. is a participant of the mandatory deposit guarantee scheme operating pursuant to the provisions of the Act of 10 June 2016 on the Bank Guarantee Fund, deposit guarantee scheme and mandatory restructuring (hereinafter: the Bank Guarantee Fund Act). The purpose of the mandatory deposit guarantee scheme is to ensure protection for the bank’s clients – depositors through disbursement of their monies in the amount defined by the Bank Guarantee Fund Act if the condition of the guarantee is fulfilled.

Bank Guarantee Fund

The entity responsible for ensuring the operation of the mandatory deposit guarantee scheme in Poland is the Bank Guarantee Fund, being a legal person discharging the duties defined in the Bank Guarantee Fund Act.

The purpose of the Bank Guarantee Fund is to undertake actions towards stability of the domestic financial system, in particular through ensuring the operation of the mandatory deposit guarantee scheme.

The duties of the Bank Guarantee Fund include in particular:
  • performing the duties following from deposit guarantees, including disbursement of the guaranteed monies to the depositors, and
  • control of the data contained in the calculation systems of the entities covered by the mandatory guarantee scheme, on the basis of which the lists of depositors and the guaranteed monies due to them are prepared.

Date of fulfillment of the condition of the guarantee

In the case of a bank, the date of fulfillment of the condition of the guarantee is the date determined in the decision of the Polish Financial Supervision Authority as the date of suspension of the bank’s operations and establishing of receivership, if it has not been established earlier, and application to the competent court for declaring the bank bankrupt or the date of application by the Bank Guarantee Fund to the competent court for declaring the bank bankrupt.

What is protected?

In the case of a bank, the guarantee protection covers:
  • cash accumulated by the depositor on the bank accounts, if the depositor is a party to a bank account agreement, regardless of the legal defectiveness or invalidity of the agreement,
  • other receivables of the depositor arising out of the following bank activities:
    • acceptance of cash deposits payable on demand or upon maturity and keeping accounts for such deposits,
    • keeping other bank accounts,
    • carrying out bank financial settlements,
  • amounts spent on the costs of the account holder’s funeral, if such amounts were due before the date of fulfillment of the condition of the guarantee,
  • amounts of the instructions regarding the deposit in the event of death, if such amounts were due before the date of fulfillment of the condition of the guarantee,
  • the depositor’s receivables following from bank securities, confirmed by name-specific documents issued by the issuer or name-specific certificates of deposit, if issued before 2 July 2014.


If the bank keeps one account for several persons (joint account), the depositor is each such person – within the boundaries defined in the account agreement and if there are no contractual provisions or regulations in this respect – in equal parts.

If the bank keeps a trust account, the depositor is each depositor within the boundaries following from their participation in the amount collected on the account, and as for the remaining amount, the depositor is the trustee.

If the bank keeps an account of an investment firm or recognized investment firm from a third-party state, holding the monies entrusted to it by its clients in connection with the brokerage services provided by such firm, the depositor is each client within the boundaries following from their participation in the amount collected on the account. The clients’ receivables not satisfied according to these rules, remain their claim against the investment firm.

The monies covered by guarantee protection are monies in Polish zloty or in a foreign currency.

The value of the monies covered by guarantee protection, increased by interest accrued until the date of fulfillment of the condition of the guarantee, in accordance with the interest rate specified in the agreement, regardless of the date when it becomes due, is determined as at the start of the date of fulfillment of the condition of the guarantee.

The PLN value of the monies in a foreign currency is determined based on the exchange rate used to determine the balance of the accounting ledgers as at the date of fulfillment of the condition of the guarantee.

The guarantee protection does not include:
  • monies paid on account of shares, entry fees and membership contributions to cooperatives,
  • the depositor’s monies, if such monies are deposited on bank accounts on which there was no activity in the period of 2 years before the date of fulfillment of the condition of the guarantee except for adding interest or collection of fees and commissions, and their sum is lower than the PLN equivalent of EUR 2.5 – if these were the depositor’s only monies covered by guarantee protection (the calculation of the EUR amount in PLN is based on the average exchange rate as at the date of fulfillment of the condition of the guarantee as announced by the National Bank of Poland),
  • electronic money and cash received in return for electronic money.


Whose cash is protected?

The entities involved in the guarantee protection relationship are the Bank Guarantee Fund and the depositor.

The depositors entitled to cash on account of guarantee protection are:
  • natural persons,
  • legal persons,
  • organizational entities that are not legal persons but have legal capacity awarded by a separate act,
  • school savings schemes,
  • employee social benefit and loan schemes.

  • The guarantee protection does not cover cash and receivables of:
  • State Treasury,
  • National Bank of Poland,
  • banks, foreign banks and credit institutions,
  • cooperative credit unions and the National Cooperative Credit Union,
  • Bank Guarantee Fund,
  • financial institutions,
  • investment firms and recognized investment firms from third-party states,
  • persons and entities who have not been identified by the entity covered by the deposit guarantee scheme (except for cases in which the cash or receivables were listed in the list of receivables prepared in bankruptcy proceedings, and in the case when the claims on account of cash or receivables have been approved by a final court ruling),
  • domestic and foreign insurance companies and domestic and foreign reinsurance companies,
  • investment funds, investment fund companies, foreign funds, management companies and branches of investment companies,
  • open-end pension funds, employee pension funds, universal pension fund companies and employee pension fund companies,
  • local government units,
  • public authorities of a member state other than the Republic of Poland and a third-party state, in particular central, regional and local government units of such states.


Scope of protection

Monies are covered by the guarantee protection in the bank from the date of their depositing in the account, but no later than until the day preceding the date of fulfillment of the condition of the guarantee, and in the case of receivables resulting from bank activities, unless the activity was performed before the date of fulfillment of the condition of the guarantee, up to the PLN equivalent of EUR 100,000 – in full.

The PLN equivalent of amounts in EUR is calculated based on the average exchange rate announced by the National Bank of Poland on the date of fulfillment of the condition for the guarantee.

The PLN equivalent of 100,000 Euro is the maximum value of depositor’s claims towards the Bank Guarantee Fund, regardless of the amount and the number of accounts in which he/she held cash in the Bank or the number of claims for receivables from the Bank he/she is entitled to.

If the monies or receivables of a depositor being a natural person come from:
  • paid-for sale of:
    • real property with a single-family residential building erected thereon of part thereof or interest in such real property,
    • perpetual usufruct right to land with a single-family residential building erected thereon or part thereof or interest in such right,
    • stand-alone residential premises constituting a separate real property or interest in such premises, land or interest in land, or perpetual usufruct right to land or interest in such right associated with such premises,
    • cooperative ownership right to residential premises or interest in such right – if the sale did not occur as part of conducted business activity,
  • execution of contractual or court division of property in favor of the depositor upon cessation of marital community property,
  • acquisition of inheritance by the depositor, execution of the legacy in favor of the depositor, or acquisition of a legitime by the depositor,
  • payment of the sum insured under life insurance in connection with death or reaching of a specified age by the insured,
  • payment of the sum insured under accident insurance in connection with bodily injury, health disorder or death of the insured as a result of accident,
  • payment of a cash severance pay on the terms and conditions and in the amounts specified in separate regulations,
  • payment of an old-age or disability severance pay

– they are subject to guarantee protection within 3 months of the date of receipt of the monies on the account or occurrence of the receivables, up to the amount constituting the difference between two times the limit set as the PLN equivalent of 100,000 EUR and the sum of the depositor’s other monies and receivables subject to guarantee protection, however without the limitation in which the amount set as the PLN equivalent of 100,000 EUR is the maximum amount of the depositor’s claims against the Bank Guarantee Fund, regardless of the amount and the number of accounts in one bank on which he/she had cash or the number of claims under which he/she has receivables from such bank. After this date, the aforementioned monies and receivables are covered by the mandatory deposit guarantee scheme according to general rules, i.e. the PLN equivalent of EUR 100,000 is the maximum amount of the depositor’s claims against the Bank Guarantee Fund.

If the cash accumulated by the depositor being a natural person in the bank accounts, in the case of which the depositor is a party to a bank account agreement, regardless of the legal defectiveness or invalidity of the agreement, and other receivables of the depositor being a natural person arising out of the following bank activities:
  • acceptance of cash deposits payable on demand or upon maturity and keeping accounts for such deposits,
  • keeping other bank accounts,
  • carrying out bank financial settlements,

– the monies come from payment of indemnity for damages caused by a crime or compensation for harm suffered, indemnity or compensation referred to in Article 552 of the Code of Criminal Procedure of 6 June 1997, they are subject to guarantee protection within 3 months of the date of receipt of the monies on the account or occurrence of the receivables – in entirety, however without the limitation in which the amount set as the PLN equivalent of 100,000 EUR is the maximum amount of the depositor’s claims against the Bank Guarantee Fund, regardless of the amount and the number of accounts in one bank on which he/she had monies or the number of claims under which he/she has receivables from such bank. After this date, these monies and receivables are covered by the mandatory deposit guarantee scheme according to general rules, i.e. the PLN equivalent of EUR 100,000 is the maximum amount of the depositor’s claims against the Bank Guarantee Fund.

The claim for payment of the guaranteed monies due to the depositor above the limit set as the PLN equivalent of EUR 100,000 in the aforementioned cases, occurs upon the depositor filing with the Bank Guarantee Fund a declaration of occurrence of such a case, together with the documents confirming the same, and upon the entity authorized to represent the bank (which may be the management board, receiver, liquidator, administrator or attorney-in-fact appointed by the Bank Guarantee Fund, and if the bank’s bankruptcy has been declared – receiver in bankruptcy) confirming that the depositor’s monies or receivables for which the depositor has filed a declaration, were due to the depositor on the date of fulfillment of the condition of the guarantee.

To verify the aforementioned claims, the Bank Guarantee Fund is authorized to access the data pertaining to the depositors, real estate, residential buildings and residential premises, comprised in the files kept by the entities or third parties, in particular the data comprised in the land and building registers. The Bank Guarantee Fund is also authorized to access the land and mortgage register files pertaining to the sold real estate or title in connection with which the depositor’s claim has occurred.

Rules for disbursement of guaranteed monies

On the date of fulfillment of the condition of the guarantee, the depositor acquires the rights to a cash performance from the Bank Guarantee Fund according to the rules specified in the Bank Guarantee Fund Act.

The cash performance is payable in PLN, within 7 business days of the date of fulfillment of the condition of the guarantee.

If fulfillment of the condition of the guarantee occurred after instigation of mandatory restructuring of the bank, the cash performance is deemed fulfilled in the part in which the depositor has the possibility of collecting the guaranteed monies within 7 business days of the date of fulfillment of the condition of the guarantee, using mandatory restructuring instruments.

The deadline of 7 business days of the date of fulfillment of the condition of the guarantee does not apply to all or part of the performance, among others in the cases when:
  • there are justified doubts regarding individual data in the list of depositors or justified doubts as to whether the depositor is entitled to receive the guaranteed monies or if the guaranteed monies are subject to a litigation,
  • the rights on account of guaranteed monies follow from the bank account agreement for individual retirement accounts or individual pension security accounts,
  • the disbursement of the guaranteed monies is made above the limit set as the PLN equivalent of EUR 100,000.


In connection with occurrence of a liability of the Bank Guarantee Fund to the depositor on account of the guaranteed monies, individual receivables of the depositor constituting the basis for calculation of the guaranteed monies due to the depositor are decreased proportionally.

In the case of fulfillment of the condition of the guarantee, the entity authorized to represent the bank, after determining the status of the bank’s accounting ledgers as at the date of fulfillment of the condition of the guarantee, prepares a list of depositors on the basis of the data comprised in the bank’s calculation system, as at the date of fulfillment of the condition of the guarantee.

The guaranteed monies are payable on the basis of the data found in the bank’s calculation system, after the entity authorized to represent the bank provides the Bank Guarantee Fund and the General Financial Information Inspector with a list of depositors prepared on the basis of the data from the calculation system.

In the case of justified doubts regarding the accuracy of individual data from the calculation system, the Bank Guarantee Fund makes appropriate disbursements immediately after accuracy of the data is confirmed by the entity authorized to represent the bank.

The guaranteed monies may be disbursed on behalf and on account of the Bank Guarantee Fund by an entity authorized to represent the bank or another entity with which the Bank Guarantee Fund has entered into a guaranteed monies disbursement agreement. The decision in this respect is made by the Management Board of the Bank Guarantee Fund. The Bank Guarantee Fund provides such entity with a list of disbursements comprising the data required to make the disbursements.

The Management Board of the Bank Guarantee Fund determines, by way of resolution:
  • information on the entity through which disbursements of guaranteed monies will be made,
  • disbursement method,
  • list of depositors entitled to receive the disbursements,
  • amount constituting the sum of guaranteed monies due to the depositors entitled to obtain the disbursements, transmitted to the entity making the disbursements of guaranteed monies on behalf and on account of the Bank Guarantee Fund, for disbursement of guaranteed monies,
  • amount of the monies corresponding to the payment obligations which the entities covered by the guarantee system are obligated to transfer to the Bank Guarantee Fund.


The Bank Guarantee Fund publishes the resolution by way of an announcement in a national daily and provides it to the entities covered by the guarantee scheme obligated to transfer the monies corresponding to the payment obligations and the entity through which the disbursement of guaranteed monies will be made.

The depositors’ claims on account of the guarantees not disclosed in the depositor list submitted to the Bank Guarantee Fund, will be satisfied by the Bank Guarantee Fund within 7 business days of the date of receipt of the data supplementing the depositor list, prepared by the entity authorized to represent the bank, in particular after determining the list of receivables prepared in the bank’s bankruptcy proceeding or after the receivables are ascertained by a final court verdict against the bank for which the condition of the guarantee has been fulfilled.

If on the date of fulfillment of the condition of the guarantee the rights on account of the guaranteed monies were vested in the depositor’s legal successors and persons who have presented bills specifying the amount of the costs of the account holder’s funeral and persons indicated in the instruction in the event of death, and regardless of the factual or legal basis were indicated in the bank’s calculation system as the rights of the legal predecessor, the Bank Guarantee Fund is obligated to fulfill the cash performance on account of the guaranteed monies, constituting the amount calculated for the legal predecessor.
In such a case:
  • the amount of the performance determined without taking into account the guaranteed monies that may be vested in the depositor’s legal successors and persons who have presented bills specifying the amount of the costs of the account holder’s funeral and persons indicated in the instruction in the event of death on account of the activities performed separately from the activities constituting the basis for occurrence of the guaranteed monies of the legal predecessor,
  • the right to collect the guaranteed monies is determined in accordance with the regulations defining the effects of the given type of legal succession and the rules of disposing of the property owned by the legal predecessor.


If on the date of fulfillment of the condition of the guarantee, the guaranteed monies were vested in the depositor and then were included in the property vested in the depositor’s legal successors, the right to collect the guaranteed monies is determined in accordance with the regulations defining the effects of the given type of legal succession and the rules of disposing of the property owned by the legal predecessor.

If the monies deposited in the account were blocked on the basis of regulations on preventing money laundering and financing terrorism, the disbursement of the guaranteed monies is suspended for the duration of the blockade.

If a final court verdict concludes that the monies deposited in the account in full or in part come directly or indirectly from the crime provided for in Article 165a or Article 299 of the Criminal Code of 6 June 1997, or constitute a benefit from such crime or equivalent thereof, the calculation of the performance on account of the guaranteed monies does not include the monies deposited in the account or the pertinent part thereof. Such monies are not covered by the guarantee protection in the part which has been declared forfeited.

Claims on account of the guarantees exceed their statute of limitations after 5 years of the date of fulfillment of the condition of the guarantee.

As of the date of fulfillment of the condition of the guarantee the depositor is entitled to a claim against the bank for payment of amounts above the cash performance.

The depositor is entitled to pursue claims above the cash performance from the bank in accordance with the provisions of the bankruptcy law. These monies constitute the depositor’s claim against the bank’s estate in bankruptcy.

More information about the Bank Guarantee Fund and the deposit guarantee scheme in Poland can be found at the Bank Guarantee Fund websites at: www.bfg.pl.

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