MOSCOW, February 21. /TASS/. Funds in electronic wallets of Qiwi Bank are not insured under the deposit insurance system, the Bank of Russia announced in its Telegram channel, commenting on the situation with the Qiwi Bank losing its license.

"Funds in electronic wallets are not insured under the deposit insurance system," the regulator said.

In terms of assets, Qiwi Bank ranked 89th in the banking system of the Russian Federation. According to available data, the bank has about 15 million virtual wallets open.

Earlier, the Deposit Insurance Agency reported that its insurance liability to Qiwi Bank depositors is tentatively estimated at 4.6 billion rubles ($49.7 mln), payments will start no later than March 6, 2024.

Under the current legislation, funds placed on deposits, deposits and escrow accounts are subject to insurance.