The Deposit Insurance System is a mechanism that, in the event of the liquidation of a financial institution duly registered with Fogafín, guarantees depositors the recovery of their savings up to $50.000.000 (fifty million pesos).

Coverage applies independently for each registered financial institution: if you have savings in more than one entity, you are protected up to $50.000.000 in each one.

In the unlikely event that a financial institution goes into liquidation, Fogafín will announce how, when, and where you can access the insurance payment.

What is the purpose of deposit insurance?

Deposit insurance protects depositors' savings in the event of the liquidation of a financial institution registered with Fogafín. Its goal is to preserve confidence in the Colombian financial system and ensure that small savers can recover their money.

Who are the claim holders covered by deposit insurance?

All natural and legal persons who hold products covered by entities registered with Fogafín are beneficiaries of the insurance. Coverage is automatic: you get it when you open or renew a protected product. You don't need to request it.

Which products or claims are covered by deposit insurance?

Cuenta, including its Bolsillo component, and Certificate of Deposit (CDT).

What is the maximum insured amount covered by deposit insurance?

The maximum insured amount is $50.000.000 (fifty million pesos) per depositor. This limit applies independently for each financial institution registered with Fogafín: if you have products in several entities, the $50.000.000 coverage applies separately to each one.

Which products or claims offered or contracted are not covered by deposit insurance?

The following are not covered by deposit insurance:

• Ordinary bonds.

• Mandatory or optionally convertible bonds into shares (BOCEAS / BOCAS).

• Trust products.

• Products offered by brokerage firms.

• Interest accrued after the liquidation process has begun.

• Any product contracted with an entity not registered with Fogafín.