Serbia revokes Alta Bank license, freezing thousands of Russian emigrants' savings
Serbia's Central Bank shut down Alta on October 30, leaving Russian expats with frozen accounts and unclear prospects for recovering deposits beyond 50,000 euros.
What to know
- Serbia revoked Alta Bank's license on October 30, immediately freezing accounts of thousands of Russian emigrants who relied on it for accessible banking.
- Serbian authorities guaranteed return of deposits up to 50,000 euros, but the fate of funds exceeding that amount remains unclear.
- Many depositors held substantially larger balances from property sales in Russia or received salaries through the bank; some now face acute cash shortages for daily expenses.
- Affected families are organizing to consult lawyers and share information while awaiting details on the official recovery procedure.
“In the morning, my wife woke up, read the news about the license revocation on Threads, and we quickly got dressed and went to the ATM. It wasn't working.”
Anton, IT specialist and Alta depositor · Meduza ↗
Serbia's Central Bank Regulatory authorityAnton IT specialist and Alta depositor
How it unfolded 1 development · click the chart to see its coverage articlesposts
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Meduza documents impact on Russian emigrant families
Meduza published firsthand accounts from affected Russians, including an IT specialist whose family held 70,000 euros from a Moscow apartment sale in Alta, now frozen. The reporting showed a range of circumstances—some families had alternative savings, while others had placed all their funds in the bank.
“I have two days until the food in my fridge runs out…”
— Unnamed affected depositor -
first by Meduza EN, 6d ago · also Meduza
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Serbia has revoked the license of Alta, one of the few local banks where Russian emigrants could easily open accounts. Now thousands face frozen savings, inaccessible salaries, and uncertainty over whether they’ll get all their money back. https:// meduza.io/en/feature/2026/11/0…
1 more of the top 2 · 2 posts in this stretch
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Russian émigrés in Serbia have had their money frozen after Alta Bank collapsed. To help them get by, Serbs are compiling a list of Russian-speaking businesses where customers can pay cash, while volunteers collect essentials for stranded depositors. https:// meduza.io/en/feature/2026/11/0…
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background
Deposit insurance covers up to 50,000 euros; remainder fate unclear — Serbian authorities announced they would return up to 50,000 euros in insured deposits for affected customers. The status and timeline for recovering funds beyond that amount remained unspecified, leaving thousands of depositors—some with substantially larger balances—in uncertainty.
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background
Serbia's Central Bank revokes Alta Bank license — Serbia's Central Bank revoked the license of Alta, a bank that had become a primary option for Russian emigrants to open accounts. All client accounts were immediately frozen, trapping deposits and preventing withdrawals or transfers.