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Reimbursement process

Reimbursement process

For this procedure, depositors or beneficiaries of deposit insurance payments must take the following steps:

Step 1: Have a valid claim (deposit) against the financial entity being liquidated

Once the resolution is issued to order the liquidation of a registered financial institution, Fogafín decides on the amount of deposit insurance to which each depositor is entitled, in accordance with the information contained in the depositor data base of the entity intervened, as shown on the day that institution was taken over for liquidation purposes.



Step 2: Complete the Deposit Insurance Payment Claim

Completion of the form online. Individuals and corporate entities can complete their claims for payment of deposit insurance by Fogafín on line, they must enter contact data for the individual requesting insurance indemnity, and select the preferred form of payment (EFT, cheque or cash).

Completion of the physical form. Those who have no Internet access may contact Fogafín and request it to send them physical forms for the payment of deposit insurance, which will be sent by email or certified mail.

Once the form has been completed and signed, it should be sent to our offices at Cra. 7 No. 35-40, Bogota, together with the documents described there.

 

Step 3: Present documents to Fogafín to complete the claim

Only the following types of procedure require that the documents listed below should be sent to our office at Carrera 7 No. 35-40, Bogotá:

If the claim has been completed on a physical form by an individual directly claiming his insurance:

  • Copy of the identity document of the creditor.

If the depositor is a minor, the following documents must be provided by a parent or guardian.

  • Copy of the child´s birth certificate issued by the notary
  • Copy of the ID of the parent making the insurance claim
  • In the case of the permanent absence of the parents, a person may be appointed by the Court, and that person must produce a copy of the Court order or administrative decision, together with a copy of his or her ID.

If the depositor is a minor and legally incapable:

  • A copy of the civil birth certificate of the incapable person, issued by the appropriate Notary and recording the judicial interdiction and the appointment of a curator.
  • ID of the guardian of the incapable person.

In the event that a depositor dies, the following documents must be supplied by the heir, with no suit for probate, to claim the insurance:

  • Death certificate of the holder of the credit, issued by the Notary.
  • Copy of the identity document and copy of the civil marriage certificate issued by the Notary, if the claim is by a surviving spouse.
  • Copy of the ID and of a document providing suitable evidence to accredit the status of “permanent companion”, such as a simple copy of a public deed for the formalisation of a marital or de facto marital union, and its consequent establishment of joint equity, or reconciliation in which exist its existence or a copy of the court decision declaring it is produced.
  • For other types of heirs, a copy of the ID and civil birth certificate must be produced, as issued by a notary, to accredit the degree of kindred or affinity claimed.
  • Form for the declaration of heirs, with no probate proceedings.
  • Copy of the identity document of the creditor.

The following documents are required If action is taken by an attorney:

  • ID of the grantor;
  • Copy of the ID of the grantee;
  • Original of a Special Power of Attorney addressed solely to Fogafín, to be signed by the grantor and by the grantee with personal appearance before a Notary; and
  • In the case of a general power of attorney, a copy of the related public deed attached to a record of original validity issued by the Notary, the date of issue not more than thirty days before the date of presentation of the claim.

For powers of attorney issued abroad:

  • The power of attorney should be authenticated by a Colombian Consul or Embassy, as the case may be;
  • Where the power is issued by the authorities of foreign countries, the document must carry an apostille If the foreign country is not a party to that international instrument for Apostilles, the power of attorney must be presented with the authentication of a consular or diplomatic agent of the Republic of Colombia in that country, and failing that, by that of a friendly nation.
  • If the power of attorney is granted in a language other than Spanish, unofficial translation must be made by an official translator registered on the Foreign Ministry database.

 

Step 4: Receipt of the payment of Deposit Insurance

Payment by EFT. Fogafín will arrange payment of deposit insurance through EFT to a current or savings account registered with the depositor in the Claim Form.

Payment by cheque or in cash. Fogafín will send an instruction to the paying bank to make payment of deposit insurance through a Cashier´s cheque or cash payment. The payment may then be withdrawn by depositor at the branch office selected on the Claim form.




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