We are the Compensation Scheme of German Private Banks. We protect your money automatically, securely and with legal guarantees.

If a bank goes bankrupt and can no longer pay its customers back their money, the EdB will compensate those customers. The EdB can compensate up to a maximum of 100,000 euros per customer and bank. This is known as a compensation event. A compensation event must first be determined by the Federal Financial Supervisory Authority (BaFin). Only then is the EdB permitted to start the compensation process.

Compensation claims are limited to 100,000 euros per person and per bank – regardless the number of accounts.

In special cases, compensation can be up to 500,000 euros. Specifically, when certain life events occur. Depositors must provide evidence of these special cases to the EdB in writing. Such events include:

•    the sale of a private flat or house,
•    marriage, divorce or death,
•    reaching retirement age,
•    redundancy or dismissal and
•    the birth of a child, illness, the need for nursing care or disability.

These higher amounts are protected as long as the compensation event occurs within six months of the money being debited to the account.