FAQs

Here are our most frequently asked questions about the compensation process.

Questions about the compensation amount

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.

Yes, but only up to a total of 100,000 euros, i.e. the compensation amount including interest may not exceed 100,000 euros. This is a legal stipulation. Interest is calculated up to the date on which the compensation event was determined.

Compensation will always be paid in euros. The ECB exchange rate on the day the compensation event was determined is used to calculate the conversion from other currencies.

Accounts in foreign currencies are also protected by the EdB. However, the EdB always pays out compensation in euros.