FAQs

The EdB protects private individuals, private companies and corporations. It does not protect, e.g. deposits owned by banks, financial service providers, insurance firms or public bodies.

Deposit protection covers current accounts, call accounts, fixed term deposits, savings accounts and savings bonds if held in the name of the depositor. It does not protect, e.g. bearer notes and certificates.

Up to 100,000 euros per person and per bank are protected – regardless of how many accounts you have. With joint accounts, the amount is divided equally among the account holders, unless otherwise agreed when the account was opened.

Example: A married couple have a joint account with 80,000 euros. In addition, the woman has a separate account with 30,000 euros, the man also has one with 70,000 euros. The compensation amount would then be as follows:
Woman: 40,000 euros from the joint account + 30,000 euros = 70,000 euros
Man: 40,000 euros from the joint account + 60,000 euros = 100,000 euros

Trust accounts are not attributed to the account holder, but to the trustor. In order for it to be protected the account must be clearly identified as a trust account.

As a rule, securities held in securities accounts are not protected, they belong to the customer. In the event of an insolvency, customers can transfer their securities accounts to another bank, provided that the insolvent bank has no claims against them.

Exception: If a bank cannot give the securities back to their owners, the EdB protects 90 % of the liabilities from the securities transactions, up to a maximum of 20,000 euros.

Liabilities from securities transactions refer to the financial obligations of a bank or financial institution resulting from transactions or agreements relating to securities. These liabilities usually arise when the bank or institutions has to perform certain services for the customers relating to the bought or sold securities.

For example:

1.    Payment of dividends or interest: The bank is obligated to pay the customer dividends from shares or interest from bonds that they hold on the customer’s behalf.
2.    Repayment of nominal value: If a customer invests in fixed-interest securities (e.g. bonds), the bank is required to pay back the nominal value of the bonds to the customer when due.
3.    Provision of securities: When customers sell their securities, the bank is required to provide the buyer with the relevant securities and transfer the proceeds to the seller.
4.    Settling buying or selling orders: If customers place a buying or selling order for securities, the bank must implement the transaction and transfer the purchase price or proceeds accordingly.
5.    Costs or fees: The bank is required to calculate and manage certain fees or costs as a part of securities transactions, such as trading or administration fees.

These liabilities ensure the bank meets its contractual obligations and provides the customer with the relevant services or payments. The bank also has financial obligations as part of its role as an intermediary and custodian of the securities for the customer.

These accounts should not be considered joint accounts of the partners, but as accounts of the partnership. The GbR itself has an entitlement to compensation of up to 100,000 euros.

If the bank has its head office in Germany and a branch office in the EU or EEA, customers are protected through the EdB.

The same applies vice versa, namely when a bank has its head office in the EU and branches in Germany. The nationality of the customer is irrelevant.

Yes, even after a bank merger, up to 100,000 euros per customer is protected. Depending on which scheme the new bank is assigned to, deposit protection will continue to apply under the EdB or another scheme. Deposits at the previous bank and the new bank are added together.

They will still belong to you. In a moratorium or in the event of insolvency, the bank can apply for permission from BaFin to open your deposit box for you.

If your bank becomes insolvent, you are entitled to compensation in accordance with Section 5 of the Deposit Protection Act (Einlagensicherungsgesetz, EinSiG) and Section 5(2) EinSiG in conjunction with Sections 3–5 of the Investment Compensation Act.

Disputes of this nature can be settled in a civil court.

Compensation is ruled out when:
• No activity has been recorded on the account in the last 24 months
and
• The account balance is less than the EdB’s administrative costs (currently 20 euros).