The term for payout of guaranteed deposit amounts of depositors with Corporate Commercial Bank AD (in bankruptcy) expired on 4 December 2019
Frequently asked questions on payout of guaranteed deposits with ‘Corporate Commercial Bank’ AD (in bankruptcy) (KTB)
When is the earliest I can have access to my guaranteed amount?
- As of 4 December 2014 (20 business days of license revocation according to the Law on Bank Deposit Guarantee).
How do I find out which bank to go to receive my money?
- Distribution of depositors to servicing banks is per the last digit of the uniform civil number (UCN) — for individuals, and the last digit of unified identification code (UIC) or BULSTAT code — for legal entities. The aim is to achieve an even distribution of depositors across the branch network of the servicing banks and ensure smooth payout.
Distribution of depositors across servicing banks is as follows:
|1||United Bulgarian Bank|
|2||Eurobank Bulgaria (Post Bank)|
|4||Allianz Bank Bulgaria|
|7||Central Cooperative Bank|
|9||First Investment Bank, where all foreign citizens will be serviced.|
*In view of the reorganization of CIBANK through merger into United Bulgarian Bank deposits of individuals whose UCN’s last digit is 8, and deposits of companies whose UIC ends in 8 are paid via the branch network of United Bulgarian Bank.
Depositors with KTB AD (in bankruptcy) will be serviced from Monday to Friday within the business hours of the respective bank.
Which branches of the servicing bank shall I go to?
- Lists of the branches and the business hours are available in Bulgarian in the ‘Useful documents’ and ‘Frequently asked questions’ in the payout sections herein. List of the First Investment Bank branches, which services all foreign citizens:
Is there a schedule for payout?
- No. As of 4 December 2014 you may receive your reimbursable sum at a time and place of your convenience.
What currency shall I be repaid my guaranteed deposit/s in?
In Bulgarian levs. If your deposit is in foreign currency, you will be repaid the lev (BGN) equivalent of the respective currency according to the exchange rate of the Bulgarian National Bank applicable at the initial day of payout. For euro deposits is applied BNB fixed exchange rate: EUR 1 = BGN 1.95583. For deposits in other foreign currencies is applied the last published by BNB exchange rate as at the start of payout.
Will the servicing bank charge transaction fees?
- The uniform tariff for servicing KTB AD (in bankruptcy) depositors is available here.
Tariff for servicing KTB AD (in bankruptcy) customers
Interbank transfer through BISERA (single) is free of charge for KTB AD (in bankruptcy) depositors, as well as the opening an account with the respective servicing bank.
Till when can I receive my guaranteed amount?
- As of the initial day of reimbursement, 4 December 2014, within the 5-year statute of limitation.
What document shall I present to the bank to receive my money?
- An ID card or passport. At the bank you shall sign in person a declaration (2 copies) for lack of circumstances preventing guarantee (A sample bilingual declaration is available in the ‚Useful Documents‘ section). Printed copies of the declaration will be available at the servicing bank.
Can I obtain my guaranteed amount by proxy?
- Yes. To this end you will need an explicit notary verified power of attorney. You shall also present to the servicing bank a notary verified declaration for lack of circumstances preventing guarantee. A sample content of the power of attorney and a sample bilingual declaration are available in the ‘Useful Documents’ section.
Do I have to sign in person the declaration for lack of circumstances preventing guarantee?
- Yes. If you cannot report in person to the servicing bank to dispose with your funds and sign the declaration, you shall, along with the power of attorney, provide a notary verified declaration (2 copies).
May I receive a document indicating my reimbursable amount?
- It is not necessary, but should you wish, you may receive from the conservator/trustee of the failed bank a certificate for your reimbursable amount after 4 December 2014 (initial day of payout).
I am a holder of a new/different ID card than the one I was a holder of at the opening of deposit with KTB AD (in bankruptcy). What shall I do?
- You shall update your personal data with KTB AD (in bankruptcy). For further information you shall contact KTB AD (in bankruptcy) at +359 700 1 8888.
What deposits are guaranteed? Is a current account treated as deposit?
- Guaranteed are all accounts: term deposits, demand deposits, current accounts, balances on debit card accounts and all products, meeting the statutory definition of account.
How is the reimbursable sum of a child’s deposit paid out?
- At reimbursement by the servicing bank the rules for disposition with a child’s deposit will apply, i.e. the disposition will be executed upon presentation of a relevant court decision.
What is a guaranteed amount? What is the guaranteed amount I shall receive?
- This is the sum total of all your accounts with the bank – current accounts, deposits, along with the interests accrued as of the date of license revocation up to BGN 196,000 (EUR 100,000).
Shall I receive the total amount of my guaranteed deposit/s?
Yes, you will be reimbursed for the total of your guaranteed deposit/s.
May I withdraw my reimbursable sum by debit card?
- No. You shall go to the servicing bank and sign the declaration, and dispose with your sum.
Are deposits of physical persons and legal entities guaranteed?
- Yes, guaranteed are deposits of physical persons (natural persons and sole traders) and legal entities (commercial companies, foundations and not-for-profit organisations, etc.) individually in each bank.
What shall I do if I do not agree with the reimbursable by BDIF amount?
- In case you disagree with your reimbursable sum, you can file an objection to the trustee within one year from the initial date of payout.
What are KTB’s contact details?
- You may contact KTB at: +359 700 1 8888, or visit KTB website at: www.corpbank.bg.
Where can I obtain more information?
- From BDIF website – www.dif.bg, at the national phone number: +359 700 144 03 or by email at: email@example.com