Information for depositors about the deposit guarantee system

Nova KBM dd. is a member of the deposit guarantee system, which is established and managed by the Bank of Slovenia in accordance with the Act on the Deposit Guarantee System. The deposit guarantee system provides a guarantee for the depositor's deposits in case of unavailability of deposits at the bank by paying deposit guarantee coverage to depositors or by taking other measures to maintain depositors' access to guaranteed deposits in case of the bank's bailout or forced liquidation.

If your bank were to become insolvent, your deposits would be returned to you up to 100,000 EUR.

If a deposit is not available because the bank cannot meet its financial obligations, depositors receive payouts from the deposit guarantee system. This payout covers a maximum of 100,000 EUR per depositor per bank. This means that all deposits in the same bank are added together to determine the coverage level. For example, if the investor has a savings account of 90,000 EUR and a transaction account of 20,000 EUR, he will only receive a payout of 100,000 EUR.

What is a deposit? 

A deposit is the total balance of all claims of an individual depositor against the bank, which arise from any positive balance resulting from funds remaining in the account or temporary balances resulting from normal banking transactions, and which the bank must return per the applicable legal and contractual terms, including the transaction account management agreement, savings account, cash deposit, and deposit receipt and cashier's note when issued as a registered security.

Claims that have one of the following characteristics are not considered a deposit:

derive from financial instruments as defined in the law governing the market of financial instruments, unless it is a savings product, the existence of which can be proven by an appropriate certificate, which reads in the name, and which exists on July 2, 2014;
the principal is not paid at nominal value;
the principal is paid in nominal value only if there is a surety, guarantee, or other
similar contractual guarantee of a bank or third party;
are considered as the bank's debt securities or originate from the bank's acceptances and bills of exchange;
based on an agreement or regulation, can be used exclusively to repay the depositor's obligations to the bank, or
depending on their characteristics can be taken into account when calculating the bank's capital per Regulation (EU) no. 575/2013.

Which deposits are not guaranteed by the deposit in guarantee system? 

The deposit guarantee system does not guarantee the deposits of the following depositors:

bearer deposits, including deposits for which the bank has not obtained adequate data for the identification of the actual beneficiaries by the cut-off date for the calculation of the guarantee;
deposits of banks and investment companies and other financial institutions, which they made in their name and for their account;
roles of insurance companies, reinsurance companies, and insurance holding companies;
roles of collective investment undertakings, including closed-end investment undertakings;
roles of pension funds and pension companies;
roles of states and central banks and roles of entities that are direct or indirect users of the state budget;
roles of local communities and roles of direct and indirect budget users of local communities.

Guaranteed deposit amount (protection ceiling) 

A guaranteed deposit is an eligible deposit up to the balance of this deposit on the cut-off date for guarantee calculation, including interest up to that date, but not more than 100,000 EUR.

In addition to the above-mentioned coverage, the deposit guarantee of more than 100,000 EUR also guarantees the depositor's claims against the bank in connection with positive balances that are a direct result of:

purchase or sale of residential real estate, including the subsidy that belongs to a young family for the first solution of the housing issue according to the law governing the national housing savings scheme;
payments from social, health, or life insurance per the regulations governing social, health, or life insurance;
payments of disability benefits per the regulations governing disability insurance or the protection of mentally and physically disabled persons;
compensation payments in connection with committed criminal acts;
payments of monetary assistance that the individual receives due to natural and other disasters per the regulations, except for monetary assistance that the individual receives in connection with the performance of activities;
compensation payments to those unjustly convicted and detained per the law governing criminal proceedings, monetary compensation for non-pecuniary damage received per the law governing the protection of the right to a trial without undue delay, and compensation to victims of criminal offenses under the law governing compensation to victims criminal offenses, except compensation, which means compensation for lost income;
payments from property insurance for the damage caused to personal property;
payments of solidarity and similar assistance in case of death, alimony paid based on a court decision or maintenance agreement concluded per regulations, and alimony compensation paid based on the law;
severance payments upon retirement or termination of employment for business reasons

The deposit guarantee system provides additional coverage from the aforementioned indents for six months from the day the depositor acquired a claim against the bank. An investor who, on such a basis, claims payment of guaranteed deposit coverage in an amount above 100,000 EUR, claims for this payment separately and submits an explanation and any supporting documents to the deposit guarantee system, justifying the previously listed reasons.

If you have a joint account with another person or persons 

The upper limit of 100,000 EUR applies to each investor separately.

Funds in the joint account are taken into account in the share belonging to the individual beneficial owner as a part of the deposit of this beneficial owner if the data for the identification of the beneficial owners have been submitted to the bank. If the shares of individual investors as actual beneficiaries of funds in the joint account are not determined and communicated to the bank, the shares of all beneficiaries are considered to be equal.

In the case of joint accounts, the upper limit of 100,000 EUR applies to each depositor. However, deposits in an account that can be used by two or more persons as members of a business partnership, association, or similar group without legal personality are combined and treated as deposits of a single depositor when calculating the upper limit of 100,000 EUR. In some cases, e.g. purchase or sale of residential real estate, deposits are guaranteed above the limit of 100,000 EUR.

Funds in trust (fiduciary) accounts 

Funds in the trust account, in the share belonging to the individual beneficial owner, are considered part of the deposit of this beneficial owner if the identification information of this beneficial owner has been submitted to the bank. If the information on the actual beneficiaries of the funds in the trust account is not reported to the bank, the trust account is treated as a bearer deposit for this Act.

Funds in a trust account, which, based on the regulation, are at the disposal of a certain person as a representative or manager for the account of the community, is established based on the regulation, and does not have an independent legal personality, are considered as a claim of the community up to 100,000 EUR.

The bank's claims on the depositor 

Any obligations of the depositor to the bank are not taken into account when calculating the amount for the payment of the guaranteed deposit cover, unless the depositor's obligations to the bank are due before the cut-off date for the calculation of the guarantee or on that day and are settled by taking into account the applicable contractual arrangements or regulations applicable to the bank, this obligation can be offset by the depositor's claim from the payment of the guaranteed deposit cover.

Repayment period in case of bankruptcy of the credit institution 

Your deposits of up to 100,000 EUR will be paid out within seven working days at the latest. If you are not paid within the specified time, contact the deposit guarantee system. Exemptions for certain deposits are listed on the website of the relevant deposit guarantee scheme. More information is available at http://www.bsi.si/jamstvo-vlog.asp?MapaId=150.