Over 44,000 people receive insurance compensation via SberBank Online for deposits with banks whose licenses have been revoked

Oct 14, 2021

Since early 2021, as many as 44,500 people have received insurance compensation in the SberBank Online mobile app for deposits with banks whose licenses have been revoked. This method is increasingly popular as it saves time: clients receive their money in a matter of clicks, without having to leave the house, regardless of their location.

The Deposit Insurance Agency service in SberBank Online was launched last summer, eliminating the need for in-person visits to the bank to receive payments. The money is credited to the account within three business days, usually on the day of the transaction. All documents are processed electronically, and statements and certificates can be printed out if required.

Pyotr Dneprovsky, director of State Products and Services, Sberbank:

“The online reimbursement service for depositors with banks whose licenses have been revoked was launched during the coronavirus pandemic. We realized how important it was to implement this service remotely, minimizing the risk of infection. Regardless of the epidemiological situation, this option is also convenient for people for whom visiting the office is difficult, whether that is for health reasons or because they live in remote communities without bank branches. It is generally easier and more convenient for people today to receive various services electronically, which is why we strive to provide this option where legislation allows it.”

The Insurance Payments service can be found under State Services in the Services section or via the search bar.