Attention towards bank workers.

Individual deposits in every bank operating in Albania are insured from ADIA in compliance with law no. 53/2014 “On Deposit Insurance”
Banks licensed from the Bank of Albania on deposits collection are subjects operating within the territory of the Republic of Albania and subject to the Albanian jurisdiction. Their membership in scheme is mandatory.
As member of deposit insurance scheme, first – time member banks have the obligation to pay initial contribution and afterward annual premiums on their depositors’ deposit insurance. In the case when a bank fails to pay deposits for the reasons related with its financial situation, ADIA compensates the depositors making use of these contributions and their investment proceeds.
In order to have e prompt and accurate compensation, in support of preservation of banking and financial stability in the county, it is very important:

1. An accurate depositors and deposit data entry:

i. Accurate depositor identification data (Name, last name, personal number, paternity, date of birth, identification card number)
ii. Accurate depositor contact data (Phone no. address, email)
iii. Accurate deposit data (account no. total amount, applied interest rate, currency, deposit holder & his share on the account/deposit)

2. Depositor awareness and information:

i. Bank employees should make its customers aware of the importance of their data updating, in case of possible changes
ii. Bank employees should inform customers that:
a) each individual upper insurance level is ALL 2,500,000 for each system bank
b) ADIA is the only institutions insuring and compensating individuals’ deposits in the Republic of Albania
c) are insured all deposits of individuals in banks operating in the territory of the Republic of Albania
d) are insured all individuals, resident or non – residents / Albanians or foreigners possessing deposits in all banks members of deposit insurance scheme
e) if a depositor holds more than one deposit/ account in a bank, they are summed up in one and is insured and compensated up to ALL 2,500,000
f) Jointed deposits/accounts are split up according to the number of owners and the owner is insured up to ALL 2,500,000
g) All individuals’ deposits in a bank, in ALL or foreign currency are insured. Compensation is effectuated in ALL.