Sberbank CZ, a.s. Payout

Any funds held in accounts of Sberbank clients are by law insured up to a limit of EUR 100,000 or foreign currency equipment (CZK 2.5 million) per depositor. This insurance covers both individuals (natural persons) and legal entities. The rule applies to both individuals (natural persons) and legal entities, in compliance with Sections 41a through 41s (Deposit guarantee scheme) of Act No. 21/1992 Coll., on Banks, as amended (hereinafter the “Act on Banks”). The aforementioned provisions include certain exceptions – e.g. persons not covered under the scheme. With regard to any questions or complaints (as appropriate), you may contact the Financial Market Guarantee System directly - https://www.garancnisystem.cz.

Yes, the insurance covers single depositor’s accounts with one bank. Therefore, it covers total deposits held in current, term, and savings accounts.

The insurance covers both individuals and legal entities. The rule applies to both individuals (natural persons) and legal entities, in compliance with Sections 41a through 41s (Deposit guarantee scheme) of Act No. 21/1992 Coll., on Banks, as amended (hereinafter the “Act on Banks”). The aforementioned provisions include certain exceptions – e.g. persons not covered under the scheme. With regard to any questions or complaints (as appropriate), you may contact the Financial Market Guarantee System directly - https://www.garancnisystem.cz.

Receivables from uninsured deposits (in excess of EUR 100,000) will be subject to liquidation or insolvency proceedings.

All compensations for insured deposits are always carried out by the Financial Market Guarantee System. The FMGS has appointed Komerční banka to provide compensations to Sberbank CZ clients. For more information, visit https://www.garancnisystem.cz/seznam-pobocek-vyplata.

No, there are no differences. The insurance covers deposits of both individuals and legal entities, including housing and unit owner associations. There is a special category of depositors that includes towns, municipalities, and regions – see Sections 41a through 41s (Deposit guarantee scheme) of Act No. 21/1992 Coll., on Banks, as amended (hereinafter the “Act on Banks”). The aforementioned provisions include certain exceptions – e.g. persons not covered under the scheme.

1. Minors, who have not been emancipated (and do not have full legal capacity) before reaching the age of majority (as a result of a court decision or marriage), may be represented by their
   1. Parent – a parent shall present his or her identity document as well as a minor’s birth certificate that lists such parent as the father or mother of the represented child; or
   2. Legal guardian – a legal guardian shall present his or her identity document together with a final court decision appointing such person a legal guardian of the minor, with an indication of the entry into force clause, or a deed appointing a guardian with an official round stamp of a court; or
   3. Guardian ad litem – a guardian ad litem shall present his or her identity document together with a final court decision appointing such person a guardian ad litem of the minor, with an indication of the entry into force clause, or a deed appointing a guardian ad litem with an official round stamp of a court; or

(If a municipality is appointed to act as a public guardian ad litem, then the person that visits the bank on behalf of such municipality shall – in addition to documents specified in the above subsection c) – also present the authorisation issued by the municipality with an officially certified signature of the municipality mayor or a mayor’s signature with an official round stamp of the municipality.)

4. Foster-parent – a foster parent shall present his or her identity document together with a final court decision, on the basis of which the relevant minor was placed in his or her foster care, with an indication of the entry into force clause; or
5. Person with custody of a child – a caregiver shall present his or her identity document together with a final court decision giving such person custody of the child, with an indication of the entry into force clause.

• Normal and unusual matter (within the meaning of Section 898 of the Civil Code):
  • Where compensation is paid out by a non-cash transfer to an account held by a minor, such payout does not require a guardianship court’s approval – irrespective of the amount of such compensation. The fact that the account, to which the payment is to be made, is held by a minor must be documented to the bank, e.g. by an agreement on such account, account statement or confirmation of the bank that maintains the minor’s account.
  • Where compensation is paid out by a non-cash transfer to an account not held by a minor or to an account, whose account holder is not documented to the bank, any transfer of more than CZK 50,000 shall require a guardianship court’s approval.
  • Where compensation is paid out in cash, any amount exceeding CZK 50,000 shall require a guardianship court’s approval of such payout.
  • No guardianship court’s approval shall be required in connection with compensations of up to CZK 50,000 (whether in cash or non-cash form).

2. Adults with limited legal capacity represented by a guardian ad litem shall present his or her identity document together with a final court decision limiting such person’s legal capacity and appointing a guardian ad litem for a person with limited legal capacity, with an indication of the entry into force clause, or a deed appointing a guardian ad litem with an official round stamp of a court.

• A court may only limit legal capacity for a specific period of time (to be specified in such court’s decision limiting legal capacity or in a deed appointing a guardian ad litem), usually for a period of three but no more than five years, if it is obvious that the relevant person’s condition will not improve in three years. After this period, the legal effect of the limited legal capacity shall expire. However, if a court initiates proceedings on extending the period of limited legal capacity during the aforementioned period, the original decision shall remain in full force and effect until a new decision in the matter is issued; however, no more than one year.

If the period, for which an individual’s legal capacity was limited, already expired, then the guardian ad litem shall document the extended period of limited legal capacity (i) by a petition to initiate proceedings on extending the period of limited legal capacity with a court’s postmark; or (ii) by a court order to initiate proceedings on extending the period of limited legal capacity.

Deposits made by municipalities and regions are only insured if they are entitled to tax revenue and their tax revenue does not exceed EUR 500,000 and other legal terms and conditions are met. Receivables from uninsured deposits made by municipalities and regions (together with clients’ other uninsured receivables in excess of EUR 100,000) will be subject to liquidation or insolvency proceedings.

Sberbank CZ, a.s. clients do not have to complete any forms or take other measures to claim their compensations. They only have to present their valid identity document at a Komerční banka branch; self-employed individuals must also present their business licence.

With regard to compensations for deposits of legal entities, it is necessary to present an original or officially certified copy of or electronically signed extract from the Commercial Register / another public register not older than 3 months, as well as an identity document of a person acting on behalf of such legal entity. Non-cash compensations may also be claimed by mail. For this purpose, it is necessary to mail a written instruction (completed form “Request for transfer of compensation”), with an officially certified signature, to the following address: Komerční banka, a.s., CKB Department 2192, Václavské náměstí 42, 114 07 Prague 1.

KB will start providing compensation as from 9 March 2022. Compensations may be provided in cash or by a bank transfer. Non-cash transfers can be executed at any of the 241 branches of Komerční banka; cash compensations will only be available at selected 40 branches. For this purpose, the hours of service of selected branches will be provisionally extended. For more information, visit https://www.kb.cz/cs/vyplata-sberbank.

No, this is not possible. The insurance covers all deposits of up to EUR 100,000.

The compensation is paid out in the currency of the country where the relevant account is held. In case of an account maintained in the Czech Republic, the compensation will be paid out in Czech crowns (CZK) only. The conversion will be carried out at the exchange rate published by the Czech National Bank as at the record date (28 February 2022).

Unfortunately, you cannot make an appointment in advance. Staff at all of our branches will serve clients on a first come, first serve basis. We expect that the number of clients interested in compensations will initially be quite high. We thus kindly ask for your patience. At the same time, we advise you to postpone your visit to one of our branches.

Incoming payments made after the effective date of the preliminary injunction will not be accepted by the Czech National Bank and will be returned to accounts of originating banks. However, the aforementioned will not apply to loan payments.

If a KB client submits a payment order that involves a Sberbank account, the system warns such client that the payment is to be made to a Sberbank account. It is then up to the client to continue or not. We have taken the measure in view of the fact that the payment may relate to a loan in Sberbank. Sberbank clients are still required to comply with their obligations to Sberbank and repay any loans.

You should contact your employees and agree on a change in such account. If you remit funds to a Sberbank account, they will be returned to your account.

Unfortunately, this is currently not possible, because the process that normally enables “account mobility” – i.e. the transfer of an account from one bank to another without the need to visit an original bank’s branch – cannot be used on the part of Sberbank. 

Sberbank CZ is currently working on a solution that will allow retain and commercial clients (Sberbank Online and Sberbank Online Banking) to view their online banking details, such as current account balance and any existing standing orders and direct debits. For more information, we advise you to monitor the Sberbank website at https://www.sberbank.cz/cs-cz/novinky.

This is currently not possible. In connection with the commencement of the bank licence withdrawal process, MasterCard and VISA card associations are blocking transactions of Sberbank clients – both with regard to ATM withdrawals and card payments. 

Yes; however, subject to any existing sanctions.

Yes, you can. The following terms and conditions will apply:

• Ukrainian nationals who crossed the Czech border by midnight of 28 February 2022 shall present a valid biometric passport in connection with their application. It must include a stamp by the Foreigners Police Section that indicates a residence address in the Czech Republic;
• Ukrainian nationals who crossed the Czech border as of 1 March 2022 shall present a valid biometric passport and a State Border Crossing Report that indicates a residence address in the Czech Republic;

Ukrainian nationals without a valid biometric passport shall present a State Border Crossing Report that has a visa sticker and indicates a residence address in the Czech Republic.

Komerční banka currently does not charge any fees for foreign payments made to Ukrainian banks.

The following terms and conditions shall apply:

• Russian nationals: Yes, if you reside in an EU Member State (this needs to be documented) and the funding does not violate any applicable sanctions.
• Belarussian / Ukrainian nationals: Yes, unless you are subject to existing sanctions and the funding does not violate any applicable sanctions. 

Payments from Sberbank will not be executed. Consequently, it is necessary to find a different way to remit such payments in connection with a KB loan.

YES, this is possible. Any and all liabilities continue to exist and borrowers are required to make payments in connection with their Sberbank loans. It is possible to apply for an Optimal Loan. Payments will then be remitted to a special SB account opened for such purpose.

Yes, any liabilities to Sberbank still exist and borrowers are required to make loan payments.

If these funds relate to loan refinancing, we will remit the payment to Sberbank as agreed. In case of a new loan that was supposed to be drawn to a Sberbank account, you need to contact your relationship manager in KB or KB branch to specify a new account number.

No, KB does not currently trade in Russian roubles, not even in non-cash form.