Most people in our country prefer to keep their savings not at home, but in banking organizations. This is quite logical: firstly, deposits allow you not only to protect money from depreciation, but also to make a profit thanks to interest. Secondly, funds on deposit take non-cash form and are much easier to protect from theft. Finally, thirdly, the Russian Federation has developed a deposit insurance program that guarantees their payment to depositors in the event of certain insured events.

However, information about the bankruptcy of one or another banking organization is increasingly appearing in the news. And the depositor is concerned with only one problem: how to get a deposit from a bank that has been deprived of its license? You can search for the answer to this question yourself on the Internet, study laws and document forms.

But there is a more convenient option - contacting professional lawyers who provide free legal assistance online.

You just need to fill out the feedback form and all complex issues will be resolved within a few minutes.

All ordinary citizens, as well as individuals engaged in entrepreneurial activities (IP), are subject to the Federal Law “On insurance of deposits of individuals in banks of the Russian Federation”.

According to this regulatory act, only banking organizations that have the appropriate license and participate in the mandatory deposit insurance program can enter into agreements on opening deposits and accept money from citizens. If the bank’s license is subsequently revoked or it is declared bankrupt, the deposit is paid out by the insurer, the DIA (Deposit Insurance Agency). The deposit insurance program in the Russian Federation is quite simple and convenient: in order to get their money back, the depositor does not need to sign additional documents with the bankrupt bank - the insurance system is fully automated.

Important point! Federal Law No. 177 provides for the following restrictions on deposit payments:

• In 2019, a refund of money is made in the amount of one hundred percent only if the deposit amount is no more than 1,400,000 rubles. Previously, this figure was half as much, but in 2019, regulatory changes were adopted that significantly increased the insurance limit and thereby contributed to the flow of funds from the population to banking organizations.
• If a citizen has two or more deposits in one bank, then, regardless of their size, he can count on an insurance payment not exceeding 1,400,000 rubles. In this case, the percentage of compensation will be determined in proportion to the amount of each deposit.
• If an individual keeps money in different banks, then the maximum amount of compensation (1.4 million rubles) will be applied separately to each banking organization.
• If the deposit was opened not in rubles, but in another currency (for example, euros or dollars), then the calculation of the return amount is determined according to the official exchange rate of the Central Bank valid on the day of the insured event (license revocation).
• If a citizen received a loan or a loan from the same banking organization where the deposit was opened, then the balance of the debt is deducted from the amount of compensation.

Procedure for returning the deposit

Only the Bank of Russia (Central Bank) has the right to revoke a bank’s license. As soon as he makes such a decision, information about this appears on the following resources:

• on the official website of the bank declared bankrupt;
• on the website of the Deposit Insurance Agency;
• in the newspaper “Bulletin of the Central Bank of Russia”;

In addition, depositors must be notified of the occurrence of a certain insured event within 30 days from the date of deprivation of the bank’s license.

All the most important information is promptly posted on the DIA website: which banking organizations will be appointed as agents for the payment of money, within what time frame and in which branches it can be returned, etc.

Step-by-step instructions for returning your deposit

Depositor actions:

• Upon learning that the bank has been closed, a citizen must contact the representative office of the Deposit Insurance Agency or the corresponding branch of the agent bank. This can be done at any time before the completion of the bankruptcy procedure of the organization in which the deposit is registered. The law does not specify a specific period, since everything depends on the financial situation of a particular bank, but in practice it is approximately two years. Meanwhile, you should not put off applying for a deposit for a long time: if you miss the application submission period, the depositor will have to prove to DIA representatives that this happened for good reasons. Only in this case can his application for compensation be accepted and the contribution paid.
• Then the individual must write an application for the return of the deposit in the prescribed form and present a passport of a citizen of the Russian Federation. In many banks, applications are prepared by employees in advance to save time, so citizens only have to check all the data and sign them. If his representative acts on behalf of the investor, then a power of attorney is required at any notary office.

If in the locality of an individual in which he lives there is neither a DIA representative office nor branches of agent banks, then the depositor can send an application for compensation in the form of a regular letter to the postal address of the Deposit Insurance Agency indicated on its website.

• The last step is to receive a deposit. This can be done in the following ways:
  • in cash;
  • by money transfer to a bank account specified by the depositor himself.

Law No. 177 guarantees that citizens have the right to return their deposits within three working days from the date of filing the relevant application, but not earlier than two weeks after the bank lost its license. Not only the initial deposit amount is compensated, but also the interest accrued on it in accordance with the terms of the agreement.

Deposits that cannot be returned under the insurance system:

• located in electronic wallets;
• opened in banking organizations located outside the Russian Federation;
• transferred by individuals to banks under a trust management agreement;
• opened by individuals for the purpose of carrying out professional activities (notaries, lawyers);
• open to bearer;
• confirmed by a passbook.

If the deposit amount is more than the limit

If a citizen’s deposit is less than 1.4 million rubles, then in this situation everything is clear: you just need to follow the instructions of the Federal Law No. 177. But what to do and where to go if the deposit is made for a larger amount than can be returned under the insurance program? In this case, the depositor receives the maximum insurance amount from the agent bank in the usual manner, and then submits a written request for the return of the remaining funds. The application must be accompanied by copies of the documents it has: an agreement on opening a bank deposit (one or more) and a certificate of payment of insurance compensation.

Since neither the agent bank nor the DIA can return money in excess of the insurance limit, these funds must be obtained through the sale of the property of the bank deprived of its license.

In other words, the depositor acquires the status of a creditor and is subject to entry into a special register. But there are also some nuances here: the claims of all creditors are satisfied in the order of priority provided for by civil law. Therefore, a situation may arise in which the proceeds from the sale of bank property are not enough to pay off all debts, and only those creditors who were first in the register will return their money. The remaining depositors will have to come to terms with this state of affairs, because the bank will be declared bankrupt and it will be impossible to get anything from it even in court. In order to avoid such unpleasant consequences, financiers advise storing large sums of money in different banks: firstly, the likelihood of license revocation from several banking organizations at once is unlikely. And, secondly, deposits of up to 1,400,000 million in each bank are a guarantee of returning your money in full.

Recently, there have been regular reports in the media about the revocation of the license of yet another bank. Often, even large and well-known financial organizations that are among the top hundred in terms of the volume of household deposits fall under the punitive measures of the Central Bank.

The Central Bank exercises control over the work of the banking sector in order to ensure its efficient and uninterrupted operation, to protect the interests of depositors. Procedures for revocation of a license and subsequent bankruptcy are regulated by the rules of Federal Law No. 127 on insolvency and Federal Law No. 395 on banking activities.

How should depositors of a bankrupt bank behave and what measures need to be taken to get their money back? The future fate of the borrowers also raises many questions.

Procedure for insolvency proceedings

The specificity of the bankruptcy of a banking organization is that it is always preceded by the revocation of the license by the Central Bank. The reasons that may lead to the revocation of a license are strictly limited by law. Among them:

• reduction in capital adequacy below 2%;
• reducing the amount of own funds to a level of less than 300 million rubles;
• untimely fulfillment of the Central Bank's requirements to bring the above parameters to the standards;
• failure to fulfill its obligations to clients for more than 14 days, the amount of creditor claims exceeds 100 minimum wages.

There are circumstances in which the Central Bank may, but is not obligated to, revoke a license. These include identifying unreliable information upon receipt; lack of banking transactions during the year; violation of Russian laws; reporting delays or errors; carrying out operations not provided for by the license.

After a bank’s license is revoked, a temporary administration is introduced into the organization. It will be in effect until a decision is made on how the procedure will proceed in the future, but no more than six months. The law provides for two scenarios:

• voluntary liquidation (subject to sufficient funds to satisfy all creditor claims);
• bankruptcy or receivership (if insufficient).

One of the procedures must be approved by the arbitration court based on the petition of the temporary manager. They are introduced for a period of up to a year, but can be extended up to six months. Information that one of the specified procedures is in effect in the bank should appear in the Kommersant newspaper.

A situation is possible when the insufficiency of assets becomes clear at the stage of voluntary liquidation. Then a decision is made to open bankruptcy proceedings.

During bankruptcy proceedings, the administrator establishes creditor claims, includes them in the register and makes all payments due to them. He also searches for, describes and sells at auction the property of a banking organization.

The DIA acts as a bankruptcy trustee or liquidator.

A specific feature of the bankruptcy of banking organizations is the absence of a monitoring procedure; instead, other measures to prevent bankruptcy are used.

The Central Bank may introduce a temporary moratorium on banking operations for a period of no more than 3 months. A moratorium does not always mean imminent liquidation of a bank. Its main goal is to restore the balance of payments, which requires a temporary freeze on all accounts except current ones. Upon successful completion of this procedure, liquidity problems in the bank are eliminated.

The moratorium may end with the introduction of a reorganization procedure or the transfer of part of the property in favor of another financial organization. The latter will become the legal successor of the bank and all obligations to depositors will have to remain the same.

But it is also possible that the moratorium ends unsuccessfully, in which case the bank’s license will still be revoked.

In the event of a bank bankruptcy, how much is returned?

Bankruptcy of a bank, revocation of its license or the introduction of a temporary moratorium are considered insured events and the payment of insurance compensation is provided for them. The Deposit Insurance Agency in Russia is responsible for this.

Today, the current insurance system includes more than 800 banks, which have the right to attract funds from individuals as deposits.

The maximum amount of insurance compensation is set at 1.4 million rubles. In recent years, it has doubled compared to the original level of 700 thousand rubles. Individuals who have opened deposits or had card accounts in a bankrupt bank, and, more recently, individual entrepreneurs, can count on compensation payments.

Legal entities cannot count on payments from the DIA; their only hope is the sale of the bank's liquid property or voluntary settlements with creditors.

A client of a bankrupt bank can apply for insurance payment within 14 days after the occurrence of an insured event (revocation of a license). The DIA appoints authorized banking organizations to accept applications, information about which is published in the media and on the website of the bankrupt bank. The DIA’s responsibilities also include notifying all depositors about bankruptcy.

To receive compensation, you must submit an application, passport and documents confirming the existence of a deposit/account to the authorized bank. Payment is made within three days, but not earlier than the expiration of a two-week period after the occurrence of the insured event.

Compensation must be applied for before the liquidation of the bank is completed. If the client does not meet the specified deadlines, then the insurance will be paid to him only if there are good reasons: in case of serious illness, being on a business trip, etc.

Sequence of payments

When the claims of creditors are satisfied, payments by the bank are made in accordance with the priority.

First of allь claims of individuals under bank deposit agreements and obligations that arose due to harm to life and health, as well as claims transferred to the Central Bank and the DIA, are repaid.

Secondly– requirements for bankrupt employees regarding severance pay and wages.

On the third– claims that do not relate to the first and second priority, as well as obligations to redeem securities.

If a credit institution does not have enough funds to pay off all claims within one queue, then the amount is distributed in proportion to the amounts of claims included in the register.

If a bank goes bankrupt, what happens to the loan and deposit?

Bank bankruptcy, unfortunately for many borrowers, does not cancel their obligations on loans and mortgages. If the borrower stops making payments on the loan, this threatens him with penalties, a damaged credit history, and forced collection if he fails to pay his loan obligations for a long time. Mortgage borrowers may lose the home that is the collateral.

In some situations, claims on loan obligations can be sold during bankruptcy proceedings. They are included in the bankruptcy estate, and they can only be acquired by another organization that has a license to conduct banking operations.

The buyer then becomes the borrower's new lender. It is worth understanding that the bank does not have the right to change the terms of the loan agreement: increase the interest rate, demand early repayment, etc. Otherwise, its actions can be appealed to the Central Bank.

As already mentioned, depositors are paid compensation within the range of 1.4 million rubles. If the client’s deposit exceeded 1.4 million rubles, then he can receive the balance during bankruptcy proceedings during the sale of bank property along with other creditors. No one guarantees payment of the balance, so experts recommend keeping money in several banks without exceeding the insurance limit.

Interest on the deposit that was accrued at the time of liquidation of the bank is also subject to payment as part of compensation from the DIA. If there was a moratorium at the bank, then during this period interest is accrued at a rate of 6.67% per annum (2/3 of the refinancing rate).

How do you know if a bank is on the verge of bankruptcy?

There are several signs that indicate that a banking organization is going through hard times and there is a high probability of license revocation in the coming days.

• too attractive (high) rates on deposits (above the market average by 4-5 percentage points), which indicates problems with the bank’s liquidity;
• loss of positions in international/Russian ratings;
• temporary restriction on withdrawal of money from deposits;
• difficulties with receiving money/closing an account allegedly due to technical failures;
• mass closure of bank accounts by other clients;
• poor financial reporting: reduction in the size of assets, fixed assets, etc.;
• disputes with the Central Bank, receiving warnings from the Central Bank;
• alarming information background;
• introduction of shortened working hours

What should the borrower do?

The borrower initially needs to clarify the details for transferring funds. To do this, contact the DIA or a dedicated hotline for interaction with clients of the bankrupt bank. All that remains is to make payments in the same amount and in accordance with the schedule.

Representatives of the temporary administration must provide details for loan repayment to the borrower. The relevant information is posted on the bank's website. But if such information is not available, payments must be made using the same details. It is imperative to keep all payment documents confirming the fact of payment in case of disputes.

If a payment to the bankrupt is not credited to the account for any reason, then the Civil Code provides for the following way out of the situation. The borrower needs to continue to deposit money according to the schedule for the notary's deposit. Then the accrued penalties will be canceled, and your credit history will remain impeccable.

After the bank is declared bankrupt and its final liquidation, all payments must be made to the DIA. The agency posts new details in the “Liquidation of Banks” section on the official website of the bankrupt bank. Information should appear no later than 10 days after the start of liquidation. The liquidator also sends new payment details to all bank borrowers. Payments to the DIA can be made without commission at the terminals of the Russian Capital Bank, but they should not exceed 15,000 rubles.

What to do if financial problems arise not only with the lender, but also with the borrower himself? He has several options.

Firstly, he can contact the new creditor bank or the DIA with a request to revise the current debt repayment schedule or provide a credit holiday. If the application is approved, the new lender will restructure the debt by increasing the loan term. As a result, the monthly payment is minimized. Typically, for restructuring, the borrower is required to have valid reasons for the deterioration of his financial situation: loss of job, serious illness, birth of a child, etc.

Secondly, with collateral lending, the collateral is seized and sold. Typically, real estate, cars and securities are used as collateral. The proceeds go to pay off the debt, and the balance (if any) is returned to the borrower.

If none of these options is acceptable: the restructuring was refused, and there is no liquid property, then the borrower can declare bankruptcy. This opportunity has been available to individuals since 2015.

To initiate bankruptcy, the loan debt must exceed 500 thousand rubles, and the overdue period for obligations must be three months.

The initiative to declare a borrower bankrupt can come not only from the borrower, but also from the bank or DIA. If the court considers the claims of an individual or his creditors to be justified, it will propose a restructuring schedule (only if the borrower has a permanent income) or appoint a manager. The duties of the manager include the inventory and sale of all property of the debtor at auction.

All proceeds will be used to pay off the loan debt. If they are not enough, the borrower is declared bankrupt and all obligations are removed from him.

Deposit insurance by the state in the current 2019 will be carried out according to the same principle as before. In connection with the latest events in the economic life of our country, namely the deprivation of licenses of several dozen banks, many depositors are interested in the exact amount of the guaranteed return of funds.

We remind you that according to the law “On insurance of deposits of individuals in banks of the Russian Federation” If a banking organization is deprived of a license to carry out credit operations, depositors will be returned their investments in 100% of the amount, but not more than the insured amount, i.e. 1,400,000 rubles.

If the total amount of funds in your accounts and deposits with this banking company exceeded this amount, then you get in line. After the property owned by the bank is sold and debts to first-priority creditors are repaid, additional payments may be made.

If the depositor had several accounts in one bankrupt bank, then compensation will be paid in proportion to their sizes. Regardless of the currency, payments are made in rubles, and they usually begin no later than 3-4 weeks from the date of the insured event.

There are several changes that have occurred since 2016:

• If your deposit was opened in a foreign currency, then compensation payments will be made in rubles at the Central Bank exchange rate, which is in effect on the day the client applies;
• Payments are now made not only to individuals, but also to legal entities;
• The insurance amount includes not only the down payment, but also accrued interest;
• If you made a deposit whose amount exceeded 1.4 million rubles, then you can first receive the state-guaranteed amount, and then, in order of priority, claim the balance after the sale of the bank’s property.

It is important to understand that interest accrues under the agreement. If it was monthly, then you will receive an initial payment +% for the duration of the deposit. If the accrual was expected at the end of the period, which has not yet arrived, then the rate will be used “On demand”.

If the bank where you made the deposit has lost its license, no need to panic. Within 14 days, temporary management is appointed there, as well as an agent bank who will handle the return of funds.

A message about who received the obligations of the organization in which you were previously served will appear on its official website, as well as on the DIA website. After this, you will need to contact the nearest branch of the specified company with an identification document and a bank agreement for opening.

If you applied for a loan at the same banking institution, then your obligations will be reduced by the amount of your deposit and will also be transferred to the agent bank. In this case, you may be offered to repay the debt ahead of schedule on preferential terms, for example, at a reduced rate.

For borrowers: it is important that until you receive new details, you should refrain from making payments, because the money may go “nowhere”. If you still want to make another payment on your loan, be sure to keep the receipt confirming this transaction.

Are all deposits subject to insurance?

Unfortunately no. You will be able to receive compensation for ordinary deposits opened in your name, for salary, pension and other accounts intended to receive all kinds of payments.

What will not be insured by the state:

• bearer deposit accounts (savings certificates);
• impersonal metal accounts (OMS);
• electronic money;
• deposits transferred to the bank for trust management;
• investment deposits;
• accounts located in foreign branches.

It should also be remembered that not all banking organizations cooperate with the DIA, because this is a paid service, and depositors of not all companies can receive payments. Therefore, if you are planning to open a deposit in 2019, be sure to ask a specialist whether your deposit will be insured; a list of such banks can be found on the official website of the Central Bank of Russia.

Return of deposits in case of license revocation and bank bankruptcy

How to return a deposit from a problem bank?

As I already said in the article about, the vast majority of middle-income people keep their savings in bank deposits. This financial instrument is quite reliable and allows you to partially protect your savings from inflation. Compared to mutual funds, funds, etc., in the case of a bank deposit, the probability of losing the body of the deposit is extremely small due to guarantees from the state. Exceptions such as force majeure, military conflicts and disasters do not count.

Cases where a bank is declared insolvent always cause serious concerns among people who have placed deposits in it and the first question that comes to their mind is: “How to return a deposit from a problem bank?” In this article we will look at how deposits are returned to clients of a bankrupt bank.

• How to return a deposit and what you need to know about deposit insurance;
• Return of the deposit upon revocation of the license;
• Refund of money in case of bank bankruptcy;
• Return of the deposit ahead of schedule;
• What to do if the deposit is not included in the bank register.

How to return a deposit: everything you need to know about deposit insurance

I've been running this blog for over 6 years. All this time, I regularly publish reports on the results of my investments. Now the public investment portfolio is more than 1,000,000 rubles.

Especially for readers, I developed the Lazy Investor Course, in which I showed step by step how to put your personal finances in order and effectively invest your savings in dozens of assets. I recommend that every reader complete at least the first week of training (it's free).

In December 2003, Federal Law No. 177-FZ was adopted. With its adoption, the practice of refunding deposits to clients of bankrupt banks was introduced in our country. A state company was founded, the Deposit Insurance Agency for Individuals (DIA), which must keep records of entities in the credit and financial market and reimburse deposits when the need arises. The DIA also has the right to appoint liquidation management to a bank declared insolvent and manage the sale of its assets.

To date, deposits of individuals are reimbursed within the limits of 1.4 million rubles, with the exception of:

• deposits backed by a passbook or to bearer;
• funds of individual entrepreneurs stored in accounts intended for conducting business activities;
• money transferred to the bank under the terms of trust management;
• deposits in valuable metals;
• deposits in the accounts of foreign representative offices of the bank;
• electronic money.

At the same time, deposits placed in foreign currency are also subject to reimbursement, just like deposits in rubles. Not only the deposit itself will be compensated, but also all interest accrued on it up to the day preceding the announcement of liquidation or deprivation of the license. How to return a deposit in dollars? Deposits in USD and EUR are paid in rubles at the exchange rate on the date the bank was declared insolvent. Almost all banks are participants in the DIA, but before opening a deposit it would be useful to check this. Information about the bank's participation in the insurance system is available in the bank's card on the website of the Central Bank of the Russian Federation (cbr.ru).

Since 2014, the insurance system also covers the accounts of individual entrepreneurs, but they are reimbursed after payments to all individuals are completed. Insured events for the payment of deposits are: deprivation of a bank’s license and declaring the bank insolvent.

Return of deposit upon license revocation

The Central Bank revokes the license of financial organizations in cases where their activities do not meet the established standards of solvency, reliability and security of their obligations. Revocation of a license in fact means blocking the work of a bank and its liquidation, since it loses the right to do what it was created for. Data on the deprivation of a bank’s license are usually disseminated in the media and also published on specialized portals and the official website of the DIA (asv.org.ru). Return of deposit upon revocation of a bank's license is carried out within the limits of 1.4 million rubles to all clients - individuals. persons who submit a corresponding application.

After the revocation of the license is announced, information on where to apply for a refund will appear on the DIA website, the official website of the problem bank, as well as in its branches. As a rule, this is a large bank, most often Sberbank of Russia. In the very first days after the announcement of the place for receiving deposits, you should not go for them, since there will probably be huge queues waiting for you there. And you can request a refund within two years from the date of termination of the bank’s operations. Most often, compensation begins no earlier than 14 days after the deprivation of a bank’s license is announced. How to return a deposit in a problem bank? You will need to come to the indicated branch yourself, bringing with you your passport and the corresponding application for compensation. If your representative goes to collect the deposit instead of you, he will have to have with him a notarized power of attorney authorizing him to carry out such actions.

Refund of money in case of bank bankruptcy

You can learn about bankruptcy, as well as in the case of deprivation of a license, from the media or on the website of the Central Bank. As a rule, the insolvency of a participant in the banking system is announced by representatives of the Bank of Russia. As in the previous case, you can find out information about how the return of insured deposits will be carried out on the DIA website, on the official website of the bankrupt bank and in its branches. All investors who apply for them will be able to receive their funds within the limit of 1.4 million rubles. But if your deposit exceeds this threshold, then you will have to participate in bankruptcy proceedings.

After the start of the liquidation process is announced, within six months, all creditors (including those whose deposits exceed the limit) must present their claims to the liquidation commission. Where it will be located and on what schedule it will be received will be announced on the official website of the bankrupt, as well as in the media. Here, a simple application for compensation will not be enough; you will need to present all payments, contracts, additional agreements that were signed between you and the bank to confirm your claims. In bankruptcy, compensation is usually made in the following order:

1. payment of wages to employees;
2. payment of all taxes and fees (including fines and penalties);
3. payments to creditors.

If the bank's assets are enough to reach the third stage, then perhaps you will be able to return the second part of your deposit. However, unfortunately, this does not happen often, because if the bank is able to pay off most of its debts, then it will not be declared bankrupt. In order to avoid thinking about how to return the deposit from the bank in such a development of events, try to initially invest funds within the limits of the amount guaranteed for reimbursement.

Return of deposit ahead of schedule

If you suddenly receive news that your bank is on the verge of bankruptcy or, after analyzing media reports and trends, you suspect that it may have problems, then it makes sense to try to withdraw your deposit before the worst happens. This step will be most beneficial for those who have deposits in bank metals, electronic money, savings books, etc. That is, we are talking about all those deposits that will not be reimbursed. Before going to the bank, re-read your agreement to see how and under what conditions you can return the deposit early. Most likely, you will have to give up part of the interest accrued to you for the current reporting period. Or you may have to pay some kind of commission. These conditions are individual for each bank.

Refund if the deposit is not in the bank register

In the comments to the previous article on the topic of banks, the topic of returning funds from deposits, information about which for some reason is not in the bank’s register, was touched upon. In this case, you will have to prove that you opened a deposit in the problem bank. Bank transfer receipts, screenshots from online banking, account statements, service agreements and opening a deposit can help here. To avoid getting into a similar situation, it is better to have good operational indicators, for example, a bank that I have already been using for more than 4 years.

As we can see, the revocation of a license or the bankruptcy of a bank is not yet a reason to panic. To the question: “How to return a deposit from a bank at the liquidation stage?” There are specific instructions, and it is quite possible to receive your savings along with interest. If anyone has had to withdraw deposits from problem banks, please tell us about it in the comments.

Profit to everyone!

Theoretically, the procedure for closing a deposit may seem quite simple, but in practice you may encounter some difficulties, depending on the circumstances under which the deposit is closed. Let us consider in more detail the nuances of this procedure in various situations.

The position of the legislation regarding the closure of a deposit is as follows: Article 837 of the Civil Code of the Russian Federation obliges banks to return the deposit upon the depositor’s first request, i.e. this means that the bank under no circumstances has the right to refuse to issue the deposit to the depositor, even if the terms of the agreement on term of the deposit. Article 859 of the Civil Code of the Russian Federation establishes the maximum seven days period from the date the bank receives the relevant application to return the amount of money to the depositor in cash or non-cash form. The need to establish such a period is due to the fact that when returning a deposit in cash, especially if we are talking about a large amount (usually over 150 thousand rubles), the bank may face the problem of a lack of cash in the cash register, and to ensure the required amount of cash in The bank usually requires 1 to 3 days at the cash desk. When transferring funds non-cash, the bank is guided by internal regulations, according to which the transfer of funds can take up to several days, which is especially important when transferring funds to an account in another bank.

So, if you withdraw your deposit due to its expiration, then you just need to go to the bank branch where the deposit was made on the day the deposit expires. Usually, to receive money, it is enough to present a passport, as well as a savings book or certificate of deposit, if available, but sometimes it is better to take a deposit agreement with you. At the same time, if the agreement provides for cash withdrawal, we recommend that you notify the bank in advance of your intention to withdraw the specified amount.

When early withdrawal of deposit you must come to the bank office with the same documents to write an application for early closure of the deposit account.

A situation may arise in which the deposit period has expired, and You cannot come to the department bank to receive it, especially if cash issuance is required. In this case, a solution to the problem can be a power of attorney in the name of the person to whom you give the right to do this for you. Such a power of attorney can be issued either by a notary or by a bank. It must contain the identification data of the authorized person (full name, passport details, registration address), the name of the deposit transactions that the authorized person is allowed to perform, as well as the validity period of such a power of attorney.

It should be noted that a power of attorney to carry out transactions on foreign currency deposits can only be issued to close relatives. This is due to the peculiarities of Russian currency legislation.

Some investors are interested in the opportunity closing a deposit in another bank office, different from the deposit opening office. Theoretically, this should not serve as a reason for refusing to issue you a deposit, but in practice certain difficulties may arise. If the agreement provides for the transfer of the deposit amount to the current account to which the debit card is issued, then there should be no problems here. After the expiration of the deposit agreement, the funds are transferred to the specified account, and you can use them anywhere through any ATM (even from a third-party bank, but then a commission may be charged for withdrawing cash). Otherwise, the following nuances are possible:

Lack of technical ability in the bank to access a client account opened in another branch of the bank (including due to different software in the head office and territorial divisions or the presence of restrictions on employees when distributing access rights to accounts opened in other divisions). Simply put, departments cannot see in their program accounts opened in another department, and, therefore, carry out an operation to close your account and issue funds from it;

Some banks do not practice the possibility of closing a deposit in another branch, since there is no guarantee of proper identification of the client due to the fact that the original documents with the original client signature are stored in the bank office where the deposit was opened.

In this case, theoretically, you have the right to withdraw the deposit at any bank branch convenient for you, but in practice, the procedure for closing a deposit in this case becomes more complicated and takes more time. Therefore, to receive a deposit not at the opening office, you need to go to any bank branch convenient for you and write an application to transfer the deposit amount to the specified branch, indicating all the details of the agreement and account. In this case, the original documents can be scanned by bank employees or sent by courier service. The time spent on the entire procedure depends on the technical capabilities and internal regulations of each bank (from several days to several weeks). The possibility of issuing a certain amount of cash through the bank's cash desk must be agreed with this branch.

Due to the fact that many banks now offer online deposit processing, the procedure for closing such a deposit also takes place via the Internet. This feature significantly simplifies any deposit management procedures and also significantly saves time. The procedure for closing a deposit via the Internet is determined by the corresponding software interface in each bank.

Thus, there are various ways to close a deposit, it all depends on the conditions stated in the agreement and your capabilities. We only note that the bank’s inability to return the deposit in a certain way at a certain moment cannot serve as a reason for refusing to pay the deposit.