In accordance with legal requirements, second-tier banks are obligated to inform their clients about their participation in the deposit guarantee system. When establishing a bank account or deposit agreement, banks must also provide notification on the terms and procedures for guarantee payments, using the form established by the Kazakhstan Deposit Insurance Fund (KDIF).
The wide array of deposit products on the market can often lead to confusion among depositors regarding the key terms that determine the deposit type and its corresponding guarantee amount, which is payable in the event of a bank's license revocation.
In the Republic of Belarus, deposits of individuals, regardless of their amount, number, or currency, are subject to 100% reimbursement in the event the National Bank decides to revoke a bank's special permit (license) for banking activities, which grants the right to conduct the banking operation of attracting funds from individuals into bank deposits, either in whole or in part. The reimbursement of funds in Belarusian rubles and foreign currency, placed in accounts and/or deposits in banks by individuals acting as sole proprietors when concluding bank account and/or bank deposit agreements, is carried out in the amounts established by the legislation of the Republic of Belarus.