Does Zheshang Bank Wenzhou Credit Cooperative have deposit insurance?

Zheshang Bank Wenzhou Credit Cooperative has deposit insurance.

All banks must take out deposit insurance, which is compulsory. According to the Regulations on Deposit Insurance, all formal deposit financial institutions approved by China Banking and Insurance Regulatory Commission must join the insurance. So we just need to see if it has a financial license approved by the CBRC.

Commercial banks, rural cooperative banks, rural credit cooperatives and other deposit-taking banking financial institutions established in People's Republic of China (PRC) must participate in deposit insurance in accordance with the provisions of the Deposit Insurance Regulations.

The State Council promulgated the Regulations on Deposit Insurance, which came into effect in May of/kloc-0. The People's Bank of China is responsible for implementing the deposit insurance system, with a maximum repayment limit of 500,000 yuan.

Extended data

On the one hand, the relationship between deposit insurance subjects is paid, that is, the insurer can only get financial assistance after the insured bank pays the insurance premium according to the regulations, or the depositor can only get compensation when it goes bankrupt;

On the other hand, it is mutual assistance. In other words, deposit insurance is realized through the mutual assistance of a number of insured banks. If only a few banks are insured, the insurance fund is small in scale and it is difficult to bear the liability for compensation to depositors when banks go bankrupt.