Informational supplement for the depositor
Basic information about depositor protection
Deposits in Hipotekarna AD Podgorica are protected by: | Deposit Protection Fund |
Level of protection: | • €50,000 per depositor per credit institution until the date of Montenegro’s accession to the European Union.
• €100,000 per depositor per credit institution from the date of Montenegro’s accession to the European Union. |
If you have multiple deposits in the same credit institution: | All your deposits in the same credit institution are “aggregated”, and the total amount is limited to €50,000 until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union. |
If you share an account with another person / other persons: | The €50,000 limit applies to each depositor individually until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union. |
Deadline for the start of payment of guaranteed deposits in the event of a credit institution’s failure: | 15 working days until 31 December 2020.
10 working days in the period from 1 January 2021 to 31 December 2023.
7 working days from 1 January 2024 onwards |
Currency of compensation: | EURO
All deposits in currencies other than the euro are converted into euros at the mid-exchange rate of that currency from the exchange rate list published by the Central Bank of Montenegro, valid on the date the insured event occurs. |
Contact: | Fond za zaštitu depozita Miljana Vukova bb
81000 Podgorica, Crna Gora Telefon: 020 210 466
Faks: 020 210 465
email: fzd@fzdcg.org |
More information: | www.fzdcg.org |
Confirmation of receipt by the depositor: |
Additional information
If a deposit becomes unavailable because a credit institution is unable to meet its financial obligations, depositors are paid out from the deposit protection system. This payment covers up to €50,000 per depositor per credit institution until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union. This means that all deposits per depositor within the same credit institution are aggregated to determine the coverage level. For example, if a depositor has €90,000 in a savings account and €20,000 in a current account, only €50,000 will be paid out until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union.
In the case of joint accounts, the €50,000 limit applies to each depositor individually until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union.
However, deposits in an account to which two or more persons are entitled, as members of an unincorporated association, are aggregated and treated as funds of a single depositor for the purpose of calculating the €50,000 limit until the date of Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union.
In certain cases, deposits representing a temporary high balance are additionally protected up to €30,000, i.e. up to a total of €80,000 until the date of Montenegro’s accession to the European Union, or €130,000 from the date of Montenegro’s accession to the European Union, for six months after the funds are credited or from the moment these deposits become legally transferable, and relate to deposits arising from:
- the sale of a residential property in which the depositor had residence
- transactions related to: marriage, divorce, retirement severance, dismissal, disability, or death
- payments of insurance compensation or damages for victims of criminal acts and/or errors of judicial authorities, state authorities, public administration bodies, and local self-government bodies.
Additional information can be obtained at https://www.fzdcg.org
Payments
The deposit protection system is managed by the Deposit Protection Fund, Miljana Vukova bb, 81000 Podgorica, Montenegro, phone number: 020/210-466, e-mail: fzd@fzdcg.org, web: https://www.fzdcg.org. The Deposit Protection Fund will make your deposits available to you (up to €50,000 until Montenegro’s accession to the European Union, or €100,000 from the date of Montenegro’s accession to the European Union) no later than: 15 working days until 31 December 2020, 10 working days in the period from 1 January 2021 to 31 December 2023, and 7 working days from 1 January 2024.
The right to payment of guaranteed deposits expires three years from the date the insured event occurs. Additional information can be obtained at https://www.fzdcg.org
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