State Agency for Deposit Insurance and Bank Resolution > Deposit insurance

When Croatian National Bank submits a decision on the inaccessibility of the deposit, establishing that the credit institution can not pay, neither would soon be able to pay due deposits due to deterioration in its financial standing, the deposit insurance system is activated and the Agency takes over the obligation of paying compensations to depositors.

The procedure of payment

You are standing at the closed door of a bank or a building society?
All you have to do is follow the media, visit our web site or call us at our phone number 01 4813 222 in order to receive timely information regarding the procedure of compensation payment.
In accordance with the Law on Deposit Insurance System, as soon as Croatian National Bank submits a decision on the inaccessibility of the deposit in a credit institution, the Agency is obligated to provide for the start of the deposit payout within 7 working days. During that time, the Agency shall prepare the necessary resources, obtain the exact amounts of compensations per each depositor from the bankrupted credit institution and publish the Invitation containing detailed instructions and information on:
- the date of the beginning of the payouts
- credit institutions where compensations can be withdrawn
- documents you have to submit in order to exercise your right – original documents on the deposit (account card, passbook or a contract) and a valid ID (identity card or a passport)
- possible complaints and a method, time and place of their submission.
According to the instructions given in the Invitation, you should come to the credit institution office specified in the Invitation, carrying your documents, and sign a Compensation Request. It is an automatically generated document stating the exact amount of compensation for a depositor, based on the data obtained from the bankrupt credit institution. Upon the arrival to the office of the bank paying out the compensations, you will be given a printed Request. You should check the accuracy of the data and sign the Request, provided all the data are accurate, upon which the Request is deemed to be submitted.
The compensation is paid immediately, as soon as you submit the signed Request. The compensation may be paid on the account for any category of depositors, but citizens (natural persons) can have their compensation paid in cash as well.
If you do not agree with the data stated in the Compensation Request, you can initiate the complaints procedure. It is enough to fill in the complaints form and submit it to the Agency, with your data, an explanation and the required documentation attached. The corresponding department of the Agency shall ascertain the accuracy of the compensation amount as soon as possible and issue a Decision based on which the compensation shall be paid.
The depositors have a time limit of 36 months since the date of publication of Invitation in the media to submit the Request, except when the depositor was under legal proceedings due to which they could not have submitted the Request in time, which has to be officially proven.
If the deposit is higher than the deposit insurance limit, i.e. higher than 100,000 euro ,the remaining amount is to be claimed from the credit institution through a bankruptcy or liquidation proceedings.