Deposit insurance

General information on deposit protection

Deposits held in Medicinos Bankas UAB are insured	In state enterprise Indėlių ir investicijų draudimas
Protection limit	Up to €100,000 per depositor for all deposits held in one credit institution *
If you have more deposits in the same credit institution	All your deposits held in the same credit institution are aggregated and the protection limit of € 100,000 applies to the total amount*
If you have a joint account with another(other) person(s)	The limit of €100,000 applies individually to each depositor**
Deadline for the payment of a deposit insurance indemnity if the credit institution does not fulfil its obligations	20 banking days***
The currency of payment of a deposit insurance indemnity	Euro
Contact data	State Enterprise Indėlių ir investicijų draudimas, address Algirdo g. 31, Vilnius, tel. +370 5 213 5657, fax +370 5 213 5546, e-mail idf@idf.lt
Further information	www.iidraudimas.lt

Deposits held in Medicinos Bankas UAB are insured

In state enterprise Indėlių ir investicijų draudimas

Protection limit

Up to €100,000 per depositor for all deposits held in one credit institution *

If you have more deposits in the same credit institution

All your deposits held in the same credit institution are aggregated and the protection limit of € 100,000 applies to the total amount*

If you have a joint account with another(other) person(s)

The limit of €100,000 applies individually to each depositor**

Deadline for the payment of a deposit insurance indemnity if the credit institution does not fulfil its obligations

20 banking days***

The currency of payment of a deposit insurance indemnity

Euro

Contact data

State Enterprise Indėlių ir investicijų draudimas, address Algirdo g. 31, Vilnius, tel. +370 5 213 5657, fax +370 5 213 5546, e-mail idf@idf.lt

Further information

www.iidraudimas.lt

* If the deposit is not repaid due to the failure of the credit institution to fulfil its financial obligations, the state enterprise Indėlių ir investicijų draudimas will pay out deposit insurance payments to depositors. The maximum amount of insurance benefit for deposits held in one credit institution is €100,000 per depositor. In determining the amount of the deposit insurance benefit, all deposits held in the same credit institution are aggregated. For example, if the depositor has a savings account with €90,000 and a current account with €20,000, he will only receive a €100,000 insurance benefit.
In individual cases (in case of a transfer of money for a sold residential property owned by the depositor to the depositor’s account not earlier than 6 months before the date of the insured event of the deposits; money inherited by the depositor according to the will or to the law; money received by the depositor as the beneficiary under a life insurance agreement or an agreement having the equivalent essence in the event of death; money received by the depositor in the form of compensation or payment in the cases provided for by law in respect of the death of another person in the performance of his employment or service duties; benefits or compensation for damage caused by violent crime) deposits are protected by amounts exceeding €100,000.
More information can be found on the website: www.iidraudimas.lt

** If you have a joint account with another(other) person(s), the protection limit of €100,000 will be applied individually to each co-owner of the deposit.

*** Disbursement of insurance benefits.
The entity responsible for the deposit insurance is state enterprise Indėlių ir investicijų draudimas (Algirdo g. 31, Vilnius, tel. +370 5 213 5657, fax +370 5 213 5546, e-mail idf@idf.lt), website: www.iidraudimas.lt. It will return your deposits (up to €100,000) no later than in:
– 20 working days until December 31, 2018
– 15 working days from January 1, 2019 to December 31, 2020
– 10 working days from January 1, 2021 to December 31, 2023
– 7 working days from December 31, 2024
If by December 31, 2023 deposit insurance payments are not paid within 7 working days from the day of the insured event of the deposit, as from May 16, 2016, upon the request of the depositor, within 5 working days from the receipt of the request, he shall be paid a par of the deposit insurance benefit (advance deposit insurance benefit) equal to the amount of the minimum monthly salary, but no more than the amount of the appropriate insurable deposits held by the depositor.
If, during these periods, the insurance benefit has not been paid to you, you should contact the State Enterprise “Indėlių ir investicijų draudimas”. More information can be found on the website: www.iidraudimas.lt.

Other important information

In principle, all deposits of individual and business depositors are insured by the State Enterprise Indėlių ir investicijų draudimas.

The exemptions for certain deposits are indicated on the website of the State Enterprise Indėlių ir investicijų draudimas www.iidraudimas.lt. On your request, the credit institution shall also inform you if certain products are insured. If the deposits are insured, the credit institution confirms it in the statement of account.

Cases when deposits are not insured and when restrictions on payment of deposit insurance benefit apply

The deposit insurance does not include:

Deposits of other credit institutions held at one’s own expense and in one’s own name
The credit institution’s own funds
Deposits in relation to which there has been a conviction of a criminal offence for money laundering
Deposits of financial institutions
Deposits of management companies
Deposits of financial brokerage firms
Deposits with no identifiable holders (deposits held in anonymous and encrypted accounts)
Deposits of insurance companies and reinsurance companies operating under the Law on Insurance of the Republic of Lithuania
Deposits of collective investment entities
Deposits of pension funds
Deposits of state and municipal institutions and entities as defined by the Law on the State Service of the Republic of Lithuania, with the exception of funds of other persons held in the deposit accounts of such institutions and entities
Bank of Lithuania deposits
Debt securities and liabilities related to his acceptances and ordinary bills issued by the participant himself of the deposit insurance system
Electronic money and funds received by electronic money institutions from electronic money holders to exchange electronic money

Limitations on payment of deposit insurance benefits:

Deposit insurance benefits are not paid:
1) for deposits, funds, money, securities and liabilities other than the object of the deposit insurance (as indicated above in this form);
2) to depositors for deposits in an account in which during the last 24 months prior to insured event of the deposit no deposit transactions have been performed and the amount of deposit is less than €10.
The payment of deposit insurance benefits is suspended when the depositor or another person claiming the right to the deposit insurance benefit is charged with money laundering until the final court decision becomes effective.

Deferral of the Deposit Insurance Benefit Payment

In cases provided by the Law of the Republic of Lithuania on Insurance of Deposits and Liabilities to Investors (see www.iidraudimas.lt), the payment of the deposit insurance benefit may be delayed, for example, if the data justifying the right to the deposit insurance benefit, either due to a legal dispute or the depositor has a limited right to manage the deposit.

Detailed information on deposit insurance conditions and cases where deposits are not insured and when restrictions on payment of deposit insurance benefits are imposed is available on the website of the State Enterprise Indėlių ir investicijų draudimas www.iidraudimas.lt.