Insured and uninsured deposits

The deposits of both individuals (natural persons) and companies (legal entities) at banks, building savings banks, and cooperative credit unions with their registered office in the Czech Republic are insured. Deposits in Czech crowns or in foreign currencies, including interest, are all insured. The deposits of regions and municipalities are insured only if certain legal conditions have been fulfilled.

Examples of insured deposits

All the following types of deposits at banks, building savings banks, and cooperative credit unions are automatically insured with the Financial Market Guarantee System.

• Current accounts in Czech crowns or foreign currencies held for natural persons and legal entities
• Savings accounts in Czech crowns or foreign currencies held for natural persons and legal entities
• Term accounts in Czech crowns or foreign currencies held for natural persons and legal entities
• Deposit accounts in Czech crowns or foreign currencies held for natural persons and legal entities
• Savings books in Czech crowns or foreign currencies held for natural persons and legal entities
• Deposits of regions and municipalities only under the assumption that they are entitled to tax revenues or their part under the law regulating budgetary allocation of taxes and their tax revenues are not higher than an amount equivalent to EUR 500,000 and if they fulfil other conditions defined by law

Examples of uninsured deposits

• Bills of exchange and other securities (e.g. shares, bonds, unit certificates)
• Deposits of banks (inter-bank deposits), cooperative credit unions, investment firms, financial institutions (e.g. investment companies, pension companies), insurance companies, reinsurance companies and health insurance companies. Deposit insurance therefore does not cover pension insurance, life insurance or capital insurance.
• Deposits of the government (including foreign diplomatic entities)
• Subordinated debt (deposits that the insured institution may in part include in its capital)
• Pre-paid debit cards not linked to any account, issued in the form of electronic money (e.g. my paysafecard, etc.)
• Receivables from deposits that, according to a final judgment, arose from the intentional crime of money laundering, unless they were secured for the benefit of victims of the crime.
• Member’s investments (contributions) of cooperative credit union members (i.e. basic member’s investments and subsequent member’s investments under Section 4b of the Act No 87/1995 Coll., on Savings and Credit Cooperatives, as amended.)
• Deposits of self governing territorial parts of the city of Prague and also regions and municipalities whose tax revenues are over EUR 500,000.
• Funds invested to investment instruments within long-term investment product ("DIP")