Eternity Law International — News — Withdrawing funds from PNB bank

Withdrawing funds from PNB bank

Published:
August 16, 2019

Withdrawal of funds of a bank PNB

Help with payments of funds at PNB bank. Most recently, on August 15, 2019, the Financing and Capitalization Market Commission decided to suspend the work of PNB bank. From now on, every account is frozen, all available ATMs and online banking do not work.

And this, in turn, suggests that all users have lost access to their funds. Eternity Law International, thanks to the materials presented by the FKTK commission, informs about what to do for users of the PNB bank branch.

If there is money left in the PNB bank account

If the amount of the budget in the bank account does not exceed one hundred thousand euros (and there are about 99% of such people), then they are protected by the Investment Guarantee Fund. The state guarantees the payment of all funds to each client from funds.

Payments will be made by another bank from the treasury of the Fund to guarantee investments. Detailed information about the procedure, place and time of payments will be reported by Eternity Law International in the near future.

If the investment amount is more than 100 thousand euros, then these one hundred thousand will be paid in any case, and the bank’s creditor can claim the remaining funds during liquidation, or being in a state of insolvency.

When is it possible to receive funds?

One hundred thousand euros represents the total amount that is available in the account of each client, including salary, savings account types. With regard to receipt, it should be noted that, based on the legislation, the payment will be made no later than the eighth day, when there is no access to investments.

What to do with a loan in PNB and what will happen with cards?

With regards to the loan, it must continue to be paid. Until the moment the agreement is valid, neither party has the right to change something in the conditions or demand a return of credit funds before the expiration of the term.

As for the cards, they are no longer valid. If you are abroad and have this bank card, then the state will not help you.

What about online banking and securities?

Online banking is not functioning and it is not planned to launch it in the near future. With regard to securities, the bank keeps the users’ securities separately from personal assets, regardless of the bank balance.

That is, the user has the right to transfer securities to the account of any financial instrument in another institution without obstacles. This can be done when the opportunity arises.

By contacting a lawyer of Eternity Law International for advice, you can quickly solve the problem.

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