Depositor Information Sheet/Deposit & Investment Guarantee
Find out about deposit protection and investment services.
Deposit Guarantee - Depositor Information
Piraeus Bank participates in the Deposit and Investment Guarantee Fund (ΤEKE). Deposits held at the bank, regardless of currency, are covered by the Deposit Cover Scheme (DCS) of the Deposit and Investment Guarantee Fund (ΤEKE), in accordance with the specific provisions of Law 4370/2016 as amended. In the event of activation of the compensation payment procedure by the TEKE, for its calculation, the credit balances of the deposit accounts are offset against the bank's counterclaims of any kind against the beneficiary depositor, if and to the extent that they have become due and payable on or before the date of default, by the terms of articles 440 et seq. of the Civil Code, the information provided to the TEKE by the liquidator of the credit institution and the legal and contractual provisions governing the overall relationship between the credit institution in liquidation and the depositor. It should be noted that no compensation shall be paid if no transaction related to the deposit has taken place in the last 24 months and the value of the deposit is less than the administrative costs that would be incurred by the TEKE in paying such compensation. A transaction is considered to be any actual transaction by a beneficiary depositor or a third party on behalf of any beneficiary, as well as any request by the beneficiary to the bank for information on the balance of his/her deposit account.
For information on the operation of the TEKE and the guarantee of deposits as well as the exceptions for certain categories of deposits, the customer can be informed from the website of the TEKE (www.teke.gr) and from the depositor information sheet which is also available in the bank's branches.
Key information on the protection of deposit services
| Deposits at Piraeus Bank S.A. are covered by the: | Deposit and Investment Guarantee Fund (TEKE).1 |
| Limit of coverage: | €100,000 per depositor per credit institution.2 For certain categories of deposits, under certain conditions, a higher coverage limit is provided.3 |
| If you have several deposits at the same credit institution: | The maximum limit of coverage of the total deposits of each depositor in each credit institution is set at one hundred thousand (100,000) euros. This limit shall apply to all deposits held with the same credit institution, irrespective of the number of deposits, the currency and the place of deposit.4 |
| If you have a joint account with another person(s): | The €100,000 limit applies to each depositor individually |
| Deadline for starting to pay compensation from the date of failure of the credit institution: | 7 working days.5 |
| Currency of compensation: | Euro |
| Contact: | Deposit and Investment Guarantee Fund (TEKE) Postal Address: Amerikis 6 - B' floor Athens, P.C. 10671 Phone:+30 2103639933, 2103638339 Fax:+30 2103635582 Email: info@hdigf.gr |
| For more information: | www.teke.gr |
Additional information
1System responsible for covering your deposit.
2General coverage limit:
If a deposit becomes unavailable on a general and permanent basis because a credit institution is found to be unable, by decision of the competent supervisory or judicial authority, to meet its obligations towards its depositors by the applicable law, the Deposit and Investment Guarantee Fund shall pay compensation to depositors.
The payment of compensation shall cover a maximum amount of one hundred thousand (100,000) euros. This means that all deposits of the same depositor with the same credit institution are added together to determine the coverage limit. If, for example, a depositor has an individual savings account with € 90, 000 and an individual current account with € 20, 00, he/she will only be compensated for € 00, 000.
3Special coverage limit.
For more information: www.teke.gr
4Coverage limit for joint accounts:
In the case of joint accounts, the €100,000 limit applies to each depositor.
For more information: www.teke.gr
5Compensation:
The amount of the compensation is made available by TEKE within seven (7) working days from the date of the decision of the competent supervisory or judicial authority, as provided for by law. In certain cases of deposits, this period may be extended up to a maximum of three (3) months. The depositor's right to compensation shall lapse five (5) years after the expiry of the above deadlines.
To calculate the amount of compensation, the balances of the deposit accounts shall be offset against any counterclaims of the credit institution against the depositor, provided that they had become due on or before the date of the failure of the credit institution.
For more information: www.teke.gr
Other important information:
The exceptions for certain categories of deposits are listed at www.teke.gr of the Deposit and Investment Guarantee Fund (TEKE). Piraeus Bank S.A. will inform you, upon request, whether or not your deposits and/or certain categories of deposits are covered. Your deposits, as you will be informed by the account statement (for accounts where statement copies are issued), are covered by the provisions of Law No. 4370/2016 as in force, provided that they do not fall under the exceptions of article 8 of this law. The beneficiary depositor is obliged to verify his/her data at regular intervals and to inform the credit institution immediately of any amendments thereto to facilitate his/her identification.
Investment Protection - Investor information
Key information on the protection of investment services
| The investment services1in Piraeus Bank S.A. are covered by: |
Deposit and Investment Guarantee Fund (TEKE)2 |
| Limit of coverage: | €30,000 per client investor per credit institution3 |
| If you have several deposits at the same credit institution: | The maximum limit of coverage of the total deposits of each depositor in each credit institution is set at one hundred thousand (30,000) euros. This limit shall apply to all deposits held with the same credit institution, irrespective of the number of deposits, the currency and the place of deposit.4 |
| If you have a joint account with another person(s): | The €30,000 limit applies to each individual client investor |
| Request for compensation | TEKE publishes an invitation for investor clients to apply for compensation5 |
| Deadline for starting to pay compensation: |
Three months after the TEKE sends to the Bank of Greece the list of the beneficiaries of compensation. |
| Currency of compensation: | Euro |
| Contact: | Deposit & Investment Guarantee Fund (TEKE) Postal address:Amerikis 6 - B' floor Athens P.C. 10671 Phone:+30 2103639933, 2103638339 Fax:+30 2103635582 Email: info@hdigf.gr |
| For more information: | www.teke.gr |
Additional information
1Covered investment services:
Covered investment services are defined as the services referred to in Art. 4 of Law 3606/2007 (Government Gazette 195 A' 17/8/2007) paragraphs 1 (a) - (d), (f), (g) and the ancillary service of paragraph 2 (a) of the same article. Examples include receiving, transmitting and executing orders, underwriting of financial instruments, custody and administrative management of financial instruments on behalf of clients, trading for own account of one or more financial instruments, management of client portfolios, etc.
2System responsible for the protection of the covered investment service.
3Coverage Limit.
If a claim for a covered investment service is unavailable because a credit institution is found (by a supervisory authority or judicial authority) to be unable to meet its obligations to its investor-clients by applicable law, the Deposit and Investment Guarantee Fund shall pay compensation to investor-clients. The payment of compensation shall cover a maximum amount of €30,000. This means that all claims from covered investment services of the same client investor at the credit institution concerned are added together to determine the coverage limit. If, for example, an investor-client has a claim for €15,000 for covered investment services and another one for€20,000, he/ she will only be compensated for €30,000.
4Limit of protection for co-beneficiaries of the same claim from investment services:
In the case of investor-clients who are co beneficiaries of the same claim for covered investment services, the share attributable to each investor-client shall be considered as a separate claim against the credit institution and, taking into account its other claims for covered investment services, shall be compensated up to the amount of thirty thousand euros (€30,000).
For more information: www.teke.gr
5Claim for compensation:
Within a reasonable time from the date when the claim for a covered investment service became unavailable, the TEKE shall publish an invitation to client investors to submit in writing their claims against the credit institution participating in TEKE for the covered investment services, setting out the procedure for submitting such claims, the deadline for submission and their content.
For more information: www.teke.gr
6Compensation payment:
The amount of compensation becomes available from TEKE no later than three months after TEKE sends the list of the compensation beneficiaries to the Bank of Greece and this period may be extended up to a maximum of three (3) months.
The client investor's right to compensation shall lapse upon the expiry of five (5) years from the above deadlines.
To calculate the amount of compensation, similar claims between the participating credit institution and the client investor shall be offset.
For more information: www.teke.gr
Other important information:
Exemptions of certain investment services claims are listed at www.teke.gr of the Deposit and Investment Guarantee Fund (TEKE). Piraeus Bank S.A. will inform you, upon request, whether or not certain products are covered.