When will I receive my guaranteed amounts
Repayment by BDIF starts not later than 7 business days from the date of BNB’s resolution on license revocation or on declaration of unavailability of deposits, or the date of an act of a judicial authority preventing depositors from access to their funds with a bank for reasons directly related to its financial standing.
Repayment by BDIF is performed via a servicing bank/s, designated by BDIF.
Not later than 2 business days prior to the commencement of repayment, BDIF announces in at least two central dailies and on its website the servicing bank/s and the initial date of payout.
The payout term may be extended in the following events:
- when evidence is needed of the origin of the funds with temporary high balances of up to BGN 250 000, but with not more than three months of the BNB’s or a judicial authority act;
- when time for identification is needed for the person entitled to repayment, but with not more than three months of the BNB’s or a judicial authority act;
- when there is a legal dispute, or uncertainty in the legal right of a person to receive the payment, or restrictive measures imposed the deposit is repaid in 7 working days of the notification of BDIF of the legal settlement of the case;
- in cases where BDIF repays guaranteed deposits with a branch of Bulgarian bank in another EU member state but with not more than 20 business days.
Reimbursable amounts may be received within the general prescriptive period of five years following the initial day of payout.