Alta Bank Clients Start Recovering Their Money as Relief Meets Distrust

Alta Bank Clients Start Recovering Their Money as Relief Meets Distrust
Payments of insured deposits to Alta Bank clients began at Banka Poštanska štedionica branches across Serbia. Depositors can recover up to €50,000, either in cash or by transferring the money to an account at another bank, and have three years from the start of the process to claim the funds.

The Deposit Insurance Agency said it has sufficient funds to pay all insured depositors. Clients must present a valid identity card or passport, along with documentation for their Alta Bank deposit or account. Those collecting money on someone else’s behalf also need authorization and the account holder’s identification.

The first reports from branches offered contrasting accounts. Kurir reporters found some early-morning lines and complaints about unclear organization, although queues were limited or absent at several locations. One depositor said staff “could have written by hand on a piece of paper where we should stand in line, instead of having us wander around.”

Several clients also described the emotional and financial strain caused by the bank’s failure. A woman who said she had placed €20,000 in Alta Bank three months earlier told the newspaper: “Since the bank went into bankruptcy I haven’t slept or eaten… More than any other bank, no one will see me again.” A company representative said the failure had prevented her employer from paying salaries, while uncertainty remained over funds above the insured amount.

Bank officials, however, said the operation was organized and that all clients would be served. Poštanska štedionica opened branches in every city where Alta Bank operated and added a special location in Sombor because of the concentration of clients. By later morning, reports said there were no major crowds, with a dedicated counter handling Alta Bank claims.