Deposit Guarantee Scheme Information (DGS)

Version 1.0
Effective Date: [Add Date]

Introduction

This document explains how your eligible deposits with Evolution Ltd are protected under the European Deposit Guarantee Scheme. The purpose of this information is to help you understand what protection applies, which funds are covered, and under what conditions compensation is provided.

The scheme ensures that customers are compensated if a bank is unable to meet its financial obligations.

1. What the Deposit Guarantee Scheme Is

The Deposit Guarantee Scheme (“DGS”) protects customers’ eligible deposits in the event that Evolution Ltd becomes unable to return funds. Compensation is provided by an independent authority rather than by the bank.

In Lithuania, the scheme is operated by:

Indėlių ir investicijų draudimas (IID)
Konstitucijos pr. 7
09308 Vilnius, Lithuania
Website: www.iidraudimas.lt

2. Amount of Coverage

Eligible deposits are protected up to:

100,000 euro per depositor
Per bank
Per country

This means that if you hold several accounts with Evolution, all balances are combined and the maximum protection is 100,000 euro in total.

Coverage applies to:

Personal accounts
Joint accounts
Business accounts (if eligible)

If two people jointly hold an account, each person is protected up to the maximum amount.

3. Temporary High Balances

In specific cases, some deposits above 100,000 euro may also be protected for a limited period. These may include funds from:

Property sales
Insurance payouts
Inheritance or divorce settlements

Temporary high balances may be protected up to 300,000 euro for six months, depending on the category and supporting documentation.

4. What Types of Funds Are Covered

The following types of balances are normally covered:

Personal and business account balances
Savings accounts
Term deposits (if offered)
Payments credited to your account that have not yet been withdrawn

The scheme covers funds held in euro or other supported currencies.

5. What Is Not Covered

Some types of funds are not protected by the DGS. These include:

Crypto assets
Investment products
Electronic money (if applicable in certain products)
Funds held by financial institutions or government entities
Funds linked to money laundering or criminal activity
Deposits in currencies not supported by the scheme

If you are unsure whether your deposits qualify, you may contact us or the DGS operator.

6. When Compensation Occurs

Compensation is triggered if the Bank of Lithuania determines that Evolution Ltd:

Is unable to return deposits
Has had its licence withdrawn or suspended
Meets the legal definition of a failing credit institution

Once a determination is made, the DGS compensates eligible customers automatically.

7. How Compensation Works

If compensation is triggered:

You do not need to take action
The DGS will contact eligible customers directly
Payments are usually made to another account in your name
Compensation is normally issued within ten working days

You will receive the protected amount up to the maximum limit.

8. Currency and Payout Method

Compensation is paid in euro, even if your deposit was held in another currency.
Foreign currency deposits will be converted at the official exchange rate applicable on the date of the triggering event.

Payments may be sent to:

Another bank account belonging to you
A designated payment channel selected by the DGS operator

9. Your Responsibilities

You must ensure that:

Your personal or business information is accurate and up to date
You respond to DGS communication if required
You provide documents to support claims for a temporary high balance

Failure to update your contact information may delay receipt of compensation.

10. Evolution’s Responsibilities

Evolution must:

Participate in the national deposit guarantee scheme
Hold necessary records for the DGS to identify eligible deposits
Provide accurate account and balance information to authorities
Inform customers clearly about the scope of deposit protection

Evolution does not manage or influence compensation decisions.

11. How to Check Deposit Protection

You may review:

Your account type in the Evolution app
This document
Information published on the DGS operator’s website
The Bank of Lithuania registry of protected deposits

If you have questions, you may contact support or the DGS authority directly.

12. Changes to DGS Rules

DGS rules may change due to:

New EU legislation
Regulatory updates
Decisions by the Bank of Lithuania
Changes in deposit protection frameworks

When required by law, we will notify you of important updates.

13. Contact Information

If you need clarification about deposit protection, you may contact:

Evolution Ltd
[Registered Address]
[Support Email]
[Website]

For formal DGS questions, contact:

Indėlių ir investicijų draudimas
Konstitucijos pr. 7
09308 Vilnius, Lithuania
www.iidraudimas.lt