If a child has a saving account managed by his/her parent/s, is this deposit insured and separated from deposit/s of his/her parent?

Deposits on behalf to a child are insured by the Agency and compensated to this child. As per provisions of the law “On deposit insurance”, despite who opens a deposit, the insurer and compensator is the owner of the deposit. Thus, if the deposit title-holder is a child, the deposit under his possession is insured, not the parent who manages this account. In case of compensation, the payment is effectuated through the parent, in the capacity of his/her legal representative.

ASD
ASD