Information on Investor Compensation

Basic information about the protection of investment services
Ιnvestment services1 at Piraeus Bank SA are covered by:
  HELLENIC DEPOSIT AND INVESTMENT GUARANTEE FUND (HDIGF – TEKE) 2
Coverage limit:   €30.000 per investor/customer per credit institution 3
If you have claims deriving from more than one covered investment services at the same credit institution:
  TThe maximum coverage limit for all covered investment services provided by the credit institution per investor/customer per credit institution is set at EUR thirty thousand (30.000). This limit applies to all investment services kept in a single credit institution, irrespective of the number of investment services, the currency or the place where the service is provided. 4
If you have a joint account/portfolio with another/other person(s):   The €30.000 limit applies to each investor/customer separately
Claim for compensation
  TEKE publishes an announcement to invite investors/customers to submit their compensation claims 5
Compensation period in case of credit institution's failure:   Three months after TEKE sends the list with the compensation beneficiaries to the Bank of Greece 6
Currency of compensation:
  Euro
Contact Details:   Hellenic Deposit and Investment Guarantee Fund (TEKE)
Address: 6, Amerikis street - 2nd Floor
Athens, PC 10671
Tel.: +30 2103639933, 2103638339
Fax: +30 2103635582
E-mail: info@hdigf.gr
More information:
  www.teke.gr

Additional information

1 Covered investment services are the services defined under Article 4 of Law 3606/2007 (GG 195 A 17.08.2007) paragraphs 1 (a) - (d), (f), (g), as well as the associated service under paragraph 2 (a) of the said Article. Covered services include receiving, transmission and execution of orders, underwriting of financial instruments, safekeeping and administration of financial instruments on behalf of customers, dealing on one or more financial instruments for own account, customer portfolio management, etc.

2 System responsible for the protection of the covered investment service

General coverage limit 

If a claim from a covered investment service is unavailable due to a credit institution's failure to meet its obligations towards investors/customers under the current legislation, followed by the competent supervisory authority’s decision or court ruling, investors-customers are repaid by the Hellenic Deposit and Investment Guarantee Fund. This repayment covers EUR thirty thousand (30.000) maximum This means that all eligible claims deriving from covered investment services of an investor/customer at the same credit institution are added up in order to set the coverage level. If, for instance, an investor/customer claims EUR 15.000 and EUR 20.000 from two covered investment services respectively, he/she will only be repaid EUR 30.000.

Protection limit for co-beneficiaries of the same claim deriving from investment services

As regards investors/customers who are co-beneficiaries of the same claim deriving from covered investment services, each investor/customer's share is considered a separate claim against the credit institution, and the investor/customer is repaid the total amount of EUR thirty thousand (€30.000), which also includes any other claims deriving from covered investment services.
More information on: www.teke.gr


5 Claim for compensation

Within a reasonable time period from the date on which the claim deriving from a covered investment service became unavailable, TEKE publishes an announcement to invite investors/customers to submit their claims deriving from covered investment services in writing against the credit institution participating in TEKE, in which the submission procedure of the claims, the deadlines thereof and their content are defined.
More information on: www.teke.gr


6 Compensation Payment

Compensation will be repaid by TEKE three months at the latest from the date that TEKE sends the compensation beneficiaries’ list to the Bank of Greece. This deadline may be extended up to three (3) months maximum.
              
The investor/customer's right for compensation is barred after five (5) years from the above deadlines.
              
To calculate the amount of compensation, the investor/customer's claims are offset with any liabilities the investor/customer has towards the participating credit institution.

More information on: www.teke.gr


Other important information:

Exceptions for certain types of claims deriving from investment services are listed on the Hellenic Deposit and Investment Guarantee Fund's (TEKE) website www.teke.gr of the Hellenic Deposit and Investment Guarantee Fund (HDIGF). Piraeus Bank SA will inform you, upon request, whether certain products are covered or not.