And if you close a bank?

Concern spread the rumors about "closure" of banks, leading some to transfer their deposits from "small" banks into "high", consistent with a lower return on their deposit. It is logical that if all get their money from private banks, then there will be a serious problem in developed countries.

Although banks are required to inform depositors (Article 9 of Law 2832/2000 ) on how secure the testimony, we have not seen it done so that confusion and uncertainty.

There is, therefore, the Deposit Guarantee Fund , which serves to protect depositors in case of failure of a credit institution to reimburse their deposits. The fund will necessarily involve all credit institutions licensed to operate in Greece , except Deposits and Loans Fund.

The maximum coverage for each depositor, taking into account all deposits at one institution, is 100,000 euros.

With regard to joint accounts opened in the names of two or more persons, the portion allocated to each depositor is considered a separate filing and covered up the ceiling of 100,000 euros.

In simple words:

  • If someone has a total of 100,000 euros to a bank you can sleep peacefully.
  • If more money eg EUR 300,000, then you should put two more names to the account of that in the event of bankruptcy of the bank, each getting € 100,000 x 3 people = € 300,000.
  • If there is more money and do not guarantee to write his wife and children, then you can split them into several banks without having to go to a bank with extortionate interest rates ...
For more details on coverage and exclusions are relevant laws and European directives .
Comments (4)
4 Monday, 06 September 2010 21:55

14. Why are Cypriot banks not participating in the Guarantee Fund of Deposits and Investments (TEKE) after operating in Greece?

Cypriot banks (Bank of Cyprus, Greek Bank) not involved Guarantee Fund of Deposits and Investments (TEKE) of Greece because they come from EU country and participate in mandatory Deposit Guarantee System of Cyprus. Therefore, you should contact the banks themselves to inform you about.

in GREECE;; not in Cyprus;;

What ischthei thrilled;

3 Thursday, 01 July 2010 18:49

the fact that the Deposits and Loans Fund is not subject to deposit guarantee fund can be problems for kapoionpou interested in custodial forward?

2 Thursday, 01 October 2009 09:51
And if you end a love does not end and life ... According to the website of the Deposit Guarantee Fund, the TEKE needed to activate the process of compensation only once so far that depositors of Aravoellinikis bank that was liquidated in 1994 and responded promptly and with complete success in this task. I think the difficult passages of Greek banks.
1 Wednesday, 22 April 2009 11:46
If you close a bank, the Deposit Guarantee Fund you return the original amount of deposit or deposit amount together with interest accruing?