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As for the cards, they are no longer valid.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.

You could be interested

Conference Blockchain UA

Blockchain UA is coming! BlockchainUA is the main blockchain event in Ukraine. Three years in a row, the strongest community in the field of blockchain and decentralized technologies is gathering to share experiences and ideas for the development of the industry. International level experts will arrive from different parts of the world to perform on...

Registration of the company in Seychelles

Seychelles consists of one hundred and fifteen islands and islets, which are a real gem of the Indian Ocean. Besides the beautiful nature, it is a real haven for business. Seychelles is a part of the British Commonwealth. This fact determines a highly developed system of international business maintenance. Due to the corporate law, this...

Accident lawyer

Unfortunately, almost every day we face with roads accidents. At the same time, neither a beginner nor an experienced driver is immune from such troubles. To defend their rights (to compensate for the damage or prove that the charges are unfounded), it is necessary to turn to a qualified lawyer – accident lawyer. All lawyers...

Crypto license in the Cayman Islands 2022

This Virtual Assets Act of 2020 (VASP Act), as amended, establishes the legal framework for the trading of virtual assets in the Cayman Islands. And it regulates the registration and licensing of virtual asset service providers. Since the adoption of the VASP Act, the Cayman Islands Monetary Authority (CIMA) has received a large number of...

EMI license in Malta

Fintech space in Malta is constantly evolving. The jurisdiction has become one of the major financial centers, on a par with cities such as Dublin or London. It provides perfect ground for enterprises offering payment services, particularly, there are favorable taxation conditions. If you intend to operate in this area, an EMI license in Malta...

Asset Management Companies in Hong Kong

Hong Kong stands in one line together with such cities as London, Singapore and well-known as one of the well-known financial center of the world. Its location is a middle between West and East, which gives to Hong Kong obvious advantage as an international market. However, despite that Hong Kong is one of the international...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

New York

1178 Broadway, 3rd Floor #3353 New York, NY 10001

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7