If Your Polish Bank Fails: The BFG Deposit Guarantee Explained
Short answer: If a Polish bank fails, the BFG pays out deposits up to the zloty equivalent of 100,000 euro per person per institution, within 7 working days. Accounts, deposits, interest and foreign-currency balances are covered; funds, insurance products and unlicensed fintechs are not. EU branches use their home-country scheme.
When you open your first Polish bank account, one question rarely comes up until it matters: what happens to your money if the bank fails? The answer is the Bankowy Fundusz Gwarancyjny (BFG) - the deposit guarantee fund that stands behind every Polish bank and cooperative savings union. The rules are simpler than people expect, and they cover foreigners exactly as they cover Poles. Here is how they work, per the BFG's own guidance (updated 31 December 2025).
The headline: 100,000 euro per person, per institution
If your bank or SKOK fails, the BFG pays out your guaranteed funds up to the złoty equivalent of 100,000 euro - per depositor, per institution. The guarantee triggers when the financial supervisor (KNF) suspends the institution and a bankruptcy motion is filed, or when the BFG files for bankruptcy as part of compulsory restructuring. For a Polish branch of a foreign bank, the trigger is a foreign or Polish bankruptcy proceeding.
Payouts start fast: the BFG must begin paying within 7 working days of the guarantee condition being met. You collect in cash or by transfer at places the BFG announces, and if you miss the payout window you can still claim from the Fund for up to 5 years.
What is covered
Standard banking products are all inside the guarantee:
- current and savings accounts (ROR)
- term deposits (lokaty) - including accrued interest
- foreign-currency accounts (payout is always in złoty, whatever currency the account was in)
- joint accounts - each co-holder is treated as a separate depositor within their share
Foreigners are covered on exactly the same terms as Polish citizens; the guarantee attaches to the deposit, not the nationality.
What is not covered
The BFG's FAQ is blunt about the exclusions:
- Investment fund units and insurance products, even when sold at a bank branch - the bank only intermediates
- Structured deposits - only the deposit component is protected; the option part that generates extra yield is not
- Member shares and contributions in cooperative banks and SKOKs
- Anything held with an entity that has no KNF licence to take deposits - unlicensed "banks" and fintech lookalikes are outside the system entirely
If a product bundles a deposit with fund units, only the deposit part is guaranteed. When in doubt, ask whether the product is a deposit or an investment.
EU branches and cross-border banking
A Polish branch of a bank headquartered in another EU country is not covered by the BFG - it falls under the deposit guarantee scheme of the bank's home country, which also guarantees the equivalent of 100,000 euro. The same applies to Polish residents using app-based banks licensed elsewhere in the EU: check which national scheme protects you. The level is harmonised EU-wide, but the payout procedure and speed are run by the home scheme.
Above the limit
Money beyond the 100,000-euro cap is not automatically lost - it becomes your claim in the bank's bankruptcy, which you file with the receiver like any creditor. Recovery then depends on the estate. One exception worth knowing: funds held on a housing escrow account (mieszkaniowy rachunek powierniczy) when buying a flat or house from a developer are additionally protected above the BFG limit by the separate Developers' Guarantee Fund.
The practical takeaway for larger savings: spreading money across different institutions multiplies your coverage, because the limit applies per institution, not per person overall.
Frequently asked questions
I am not a Polish citizen. Am I covered?
Yes. Deposit guarantees cover the depositor regardless of nationality or residence - if your money sits in a licensed Polish bank or SKOK, the BFG protects it on the same terms as anyone else's.
My account is in euros. Is it protected the same way?
Yes - foreign-currency accounts are covered. The 100,000-euro cap is converted to złoty, and any payout is made in złoty regardless of the account currency.
Are the "savings accounts" at fintech apps covered?
Only if the entity holds a KNF licence to accept deposits. Many payment apps and e-money institutions are not deposit-takers; funds there are safeguarded differently and are not BFG-guaranteed. Check the provider's licence on the KNF register.
How fast would I actually get my money back?
The BFG must start payouts within 7 working days of the guarantee trigger and announces where and how to collect. Miss the window and you can claim directly from the Fund for up to 5 years from the trigger date.
