Article content
- What is the Deposit Guarantee Fund
- What amount does the deposit guarantee fund guarantee
- How to get a compensation
- How to avoid the need to return the deposit through the Deposit Guarantee Fund
- Where to find information about the FGDFO
The deposit guarantee system for individuals is a system for protecting individuals' funds in banks, which ensures the return of savings in the event of a financial institution's insolvency. In Ukraine, it is implemented by the Deposit Guarantee Fund for Individuals (DGF).
During martial law and for three months after its termination or cancellation, the Fund guarantees compensation to each bank depositor (individual, including individual entrepreneurs) for the full amount of the deposit, including interest, three months after the day following the termination or cancellation of martial law in Ukraine, the maximum amount of compensation for deposits cannot be less than UAH 600,000.
Financial stability and reliability of the banking system are key components of any economy. In this context, the system of guaranteeing deposits in Ukraine an extremely important role, ensuring the protection of depositors and the stability of the banking system in general. In this article, we will talk about the Deposit Guarantee Fund, analyze which deposits are subject to compensation and how to get it.
What is the Deposit Guarantee Fund
The Deposit Guarantee Fund is a state institution that protects the rights and legitimate interests of depositors and strengthens confidence in the banking system of Ukraine. In the event of insolvent banks being removed from the market and liquidated, it returns funds to its client-depositors. In addition, the fund performs the functions of removing insolvent banks from the market and liquidating banks.
The Guarantee Fund was established in 1998 as one of the first in the post-Soviet space, and in 2012, the Law on the Deposit Guarantee System for Individuals came into force. During this time, the results of the FGDFO's activities have amounted to over UAH 100 billion in compensation payments to 2 million depositors.
As of November 2025, 60 banking institutions in Ukraine are members of the Fund.
Agroprosperis Bank has been a member of the Deposit Guarantee Fund since March 14, 2008.
The main tasks of the FGDFO
- Guarantees and payments to depositors – organizing and conducting compensation for deposits in the event of bank bankruptcy.
- Financing payments – accumulating and reliably placing the Fund's funds so that resources are available at any time to reimburse depositors.
- Regulation and supervision – participation in audits, analysis of the financial condition of banks, application of measures of influence in case of identified risks.
- Removal of problematic banks from the market – timely introduction of temporary administration, search for the optimal method of settlement and liquidation in order to minimize losses for depositors and the state.
- Information and educational activities – informing the public, protecting depositors' rights, and improving the financial literacy of the population.
Thus, the Fund is both a mechanism for insuring deposits of individuals and an instrument for regulating the banking sector.
Who forms the Fund's resources and how
The money used to pay depositors does not come directly from the state budget. The system operates on the basis of:
- regular contributions from participating banks;
- income from the placement of temporarily available funds;
- return of assets from liquidated banks;
- if necessary, loans from the state or international organizations.
In fact, it is the banks themselves that finance the guarantees for their customers. This makes the system more stable and independent of budget fluctuations.
What amount does the deposit guarantee fund guarantee
The amount of the guaranteed deposit is the maximum amount that the Deposit Guarantee Fund pays to a depositor in the event of insolvency or liquidation of a bank.
Over the years, the deposit guarantee system has changed the terms and amount of compensation, gradually increasing the level of protection for depositors and strengthening confidence in the banking system. In 1998, the fund started with a maximum compensation amount of only 500 UAH. Over 27 years, this amount has increased 1,200 times and today allows to guarantee the funds of 99.5% of all depositors. Thus, in the spring of 2022, the Verkhovna Rada adopted new amendments to the legislation, according to which:
- during the period of martial law and three months after its cancellation or termination, depositors are guaranteed the full amount of funds placed in banks and accrued interest;
- in the future, the maximum amount returned by the deposit guarantee fund cannot be less than 600,000 UAH.
The Fund shall reimburse not only the funds deposited by the depositor, but also the interest accrued on them until the date of commencement of the process of withdrawing the bank from the market, but not exceeding the maximum amount of reimbursement of funds on deposits established on that date, regardless of the number of deposits in one bank.
What types of deposits are guaranteed by the fund
The Deposit Guarantee Fund reimburses funds:
- of individuals and individual entrepreneurs;
- placed in deposit, current, and card accounts in banks;
- in national and foreign currency.
If you had several accounts in one bank — for example, a term deposit, a card account, and a current account — the guaranteed deposit amount applies to all accounts in that bank. This also applies to cases where you opened some of the accounts as an individual and some as a sole proprietor.
For more information on reimbursable funds and exceptions, please visit the official website of the Deposit Guarantee Fund and the bank's website in the Deposit Guarantee Fund section.
The Deposit Guarantee Fund for Individuals does not reimburse funds
- transferred to the bank for lifetime management;
- for deposits of less than 10 UAH;
- for deposits in branches of foreign banks;
- for deposits in bank metals;
- placed on deposit by the owner of a significant stake in the bank;
- placed in accounts that are under arrest by court order;
- in a number of other cases, which are detailed in the Information on Guaranteeing Deposits of Individuals.
Currency for compensation payments
It should be noted that the Fund reimburses funds in the national currency. If the deposit was made in foreign currency, the amount is converted at the official exchange rate set by the National Bank of Ukraine, which was in effect at the end of the day preceding the day of the start of the procedure for withdrawing the bank from the market and implementing temporary administration, and in the event of a decision to revoke the banking license and liquidate the bank, at the official hryvnia exchange rate against foreign currencies set by the National Bank of Ukraine at the end of the day preceding the day of the start of the bank's liquidation. This protects depositors from currency fluctuations and ensures a uniform approach to compensation.
Example:
- deposit in USD with interest: USD 5,000;
- official exchange rate set by the NBU on the day preceding the introduction of temporary administration: UAH 41.23/USD;
- hryvnia equivalent for compensation: 5,000 × 41.23 = UAH 206,150
Thus, the depositor will receive UAH 206,150 from the Fund.
How to get a compensation
It is important to know your rights in advance so that, if necessary, you can quickly submit the necessary documents and receive compensation. This saves time and avoids misunderstandings during the payment process.
Where to apply for compensation
Deposit guarantee fund pays out funds to depositors through agent banks of the Fund, the list of which is posted on the Fund's website. It is not necessary to send applications or other documents for reimbursement of the deposit to the Fund, except in certain cases, such as:
- the existence of disputed issues;
- changes in personal data (surnames, addresses);
- applications from the depositor's heirs;
- applications from guardians of the property of persons who have disappeared without trace or are declared missing.
Documents for reimbursement
To receive funds, the depositor must contact the agent bank and present a passport and a certificate of assignment of the RNOKPP code or the code in the ID card. It is also possible to receive compensation through an authorized representative, for which he will need to present relevant documents and a certified power of attorney for receiving payments.
Refund of deposits online through Diya
In order to submit an application for receiving funds, in the "Diya" service, go to the services section and select the "Return of deposits" option, then select the bank where the accounts were opened. If you have deposits in several bankrupt banks, the application for each of them must be submitted separately.
Next, indicate your "eSupport" card. If you don't have such a card yet, the "Diya" application has a function to issue one. The last step is to leave your contact details and sign the application with Diya.Signature.
The guaranteed amount in full will be sent to the "eSupport" card within three banking days. The received funds can be transferred to another bank's card or spent in any way.
Payment terms
If a temporary administration is introduced in the bank, compensations are paid exclusively for current accounts and bank deposit contracts, the term of which expired before the day of administration. After the National Bank of Ukraine makes a decision on revoking the banking license and subsequent liquidation of the bank, the opportunity to receive payments is provided to all depositors without exception, regardless of the date of termination of the contract, in accordance with the procedure determined by regulatory acts.
Payments to depositors should begin 20 working days from the date of withdrawal of the bank from the market, and for banks with more than 500,000 accounts - after 30. If possible, payments begin earlier than the specified deadline.
How to avoid the need to return the deposit through the Deposit Guarantee Fund
The deposit guarantee system works like clockwork, so you get the impression that you can trust your savings to any bank without hesitation, choosing the highest rate over the reliability. However, it is still calmer and more profitable to receive funds in your bank without any losses. After all, when a bank falls into the category of insolvent, the accrual of interest on deposits stops and, for at least a month, your money stops working.
So, it is obvious that it is better to avoid unnecessary stress, not to lose interest and the ability to access money, but to withdraw your funds from your bank calmly and on time. Therefore, when placing a deposit in a bank, you should seriously approach the choice of a bank for placing a deposit.
Deposits in Agroprosperis Bank
Where to find information about the FGDFO
To obtain reliable and up-to-date information on the procedure for reimbursing deposits, the terms of payments, or the legal basis for the Fund's activities, you should only use official sources. All the necessary information is available from the following sources:
- the official website of the FGDFO fg.gov.ua;
- The DGF information sheet, which is posted on each bank's website and which depositors must read when placing a deposit. It explains in detail the rights of depositors and the procedure for receiving compensation;
- the Law of Ukraine “On the System of Guaranteeing Deposits of Individuals,” which regulates the work of the Fund;
- the Fund's hotline numbers 0 800 105 800 (free calls within Ukraine) and 044 333 36 55 (at the operator's rates).
