Azerpost LLC to pay problem loan compensations in two forms
As of April 22, the citizens who are eligible to receive compensation for a problem loan in the amount of less than 500 manats will be able to receive their money in cash at any post office of Azerpost upon presenting their identity card and its copy.
And from May 1, citizens eligible to receive compensation for a problem loan in the amount of more than 500 manat will be able to receive their money in a cashless form at the designated post offices. That is, the citizen will be able to cash out his money using a plastic card, which he will receive at the designated post office.
Note that only those citizens who are clients of nonbank credit organizations and closing banks can apply to Azerpost LLC for problem credit compensation.
According to the list presented by the Financial Markets Control Chamber, 120,994 people will receive problem credit compensations at the initial stage. Of them, 44,158 people will get compensation with the use of Azerpost’s plastic cards, and 76,836 people will get compensation in cash.
The Financial Markets Control Chamber provided Azerpost LLC with all information regarding the citizens with problem loans and the compensations they will receive. This information was posted on the Chamber’s portal: http://http://www.pk.fimsa.az.
At the same time, the clients of closing banks and nonbank credit organizations can get this information from the "Compensation for Your Problem Loan" section on the official webpage of Azerpost LLC.
Within this project, the payment of compensation in the amount of less than 500 manats to individuals who are clients of nonbank credit organizations and closing banks will be carried out through the money transfer service of Azerpost LLC. In making these payments, serious attention will be paid to the identification of clients and the coincidence of data in the system with that in identity card.
Also, when issuing PIN codes and cards to clients, they will leave their signature in the registry, and a copy of their ID will be included in the registry as well.
As to the payments via plastic cards, a plastic card will be sent to the holder’s registered address. When going through the process of application for compensation on Azerpost LLC’s official website, the citizen will be shown the number of the post office where he will be able to get his plastic card upon signing necessary documents. Upon completion of these operations, the citizen will be issued a plastic card and PIN-code.
With the use of plastic cards, clients will be able to cash their money without having to pay any fees. They will be able to do this not only via ATMs and POS-terminals of Azerpost’ post offices, but also via ATMs connected to the Millikart LLC network. The ATMs that are part of the Millikart LLC network are owned by Azerbaijan Industry Bank, AccessBank, Bank Melli İran, Bank of Baku, ExpressBank, Gunay Bank, NaxçıvanBank, Unibank.
In case of absence of the loan holder in the country or his death, as well as in case the guarantor makes payment to the client or other problematic issues arise, payments will be made only in cases stipulated by law.
The resolution of problems arising in connection with the determination of inheritance and the issuance of power of attorney is not within the competence of Azerpost. When issuing problem loans to individuals, Azerpost LLC acts only as an executive party.
It should be noted that services related to payment of problem loans will be provided by Azerpost LLC free of charge.
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