INFORMATION ON DEPOSIT INSURANCE AND INVESTOR COMPENSATION
Due to EU directives, implemented in Austria in the Austrian Banking Act (BWG), every credit institution that accepts deposits requiring collateral or provides securities services requiring collateral is legally obliged to belong to a protection scheme.
VakifBank International AG is a member of Einlagensicherung AUSTRIA Ges.m.b.H. In the event of the insolvency of VakifBank International AG, your deposits will be reimbursed by the deposit guarantee scheme up to EUR 100,000.
Further information is available from our branch or can be found in the Federal Act on Deposit Guarantee Schemes and Investor Compensation at Credit Institutions (Einlagensicherungs- und Anlegerentschädigungsgesetz – ESAEG), available at: Rechtsinformationssystem des Bundes (RIS) bzw. im Informationsbogen für den Einleger (siehe unten unter „Weitere Informationen“).
However, deposits are, in particular, not eligible for reimbursement if they have arisen in connection with transactions in respect of which persons have been finally convicted in criminal proceedings conducted in Austria for money laundering pursuant to Section 165 of the Austrian Criminal Code (StGB), or in other criminal proceedings for money laundering within the meaning of Article 1(3) of Directive (EU) 2015/849 (Section 10(1)(3) ESAEG).
