How to return a bank deposit?

How to return a bank deposit?

Do you keep money on bank deposits? This has both advantages and disadvantages. There are situations when the bank refuses to issue money savings at the depositor request. This applies to financial institutions are in liquidation or have declared default. And they cannot pay money to clients.

How to get your money back?

A deposit in a bank is money placed in a bank to make a profit as interest to its owner. These funds can be both in hryvnia and in another currency. The money must be returned to the depositor after the expiration if he does not request an extension contribution under the terms of the contract.

The deposit agreement between the bank and the client is created in two copies.  This document prescribes where the money will be receive income from deposits, retention period and what interest. The document states parties liability and conditions under which the contract may be terminated early also.

You need to do everything in time and writing to return a bank deposit. All conditions are specified in the agreement between the client and the bank.

The actions list to be taken to return the money from the deposit:

1. It is necessary to apply in writing to the bank with a request to return not only deposit but also interest due on its expiration

2. The bank must issue part or all of the deposit at the first depositor request

3. You need to go to the court to protect your rights if the bank does not respond to your requests

What are the powers of the Individual Deposit Guarantee Fund regarding returns funds?

The NBU notifies the Deposit Guarantee Fund of its decision within 24 hours if it refers a bank to the insolvent list. This organization deals with the bank withdrawal process from the market and creates a temporary administration.

They will control the money is returned to depositors and not stolen. The guaranteed compensation amount does not exceed 200 thousand UAH under the law. You need to contact the Deposit Guarantee Fund to get your money.

Situations are different. You need to go to the court to get your money often. It is useful to turn to professional lawyers who have significant experience in such processes. It is the best to use the UniExpert. You can evaluate the other users recommendations and find a lawyer who is close to you.

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