What we do?

Who do we protect?

We protect the deposits of bank customers if their account is held at a bank in Germany that is assigned to the Compensation Scheme of German Private Banks (EdB).

This includes, for example:

• Banks where your current account is held
• Banks where you have invested savings or fixed-term deposits

Not all banks in Germany are assigned to us. The savings and cooperative banks have their own guarantee schemes. Foreign banks that are active in Germany may also belong to other guarantee schemes.

How to find out if your bank is assigned to the EdB:

Check here to find out if your bank belongs to the EdB. Here you’ll find a complete list of all the assigned banks.

What do we protect?  

Find out here how secure your money is – from savings deposits to current accounts.

We protect your deposits, so you have one less thing to worry about. This includes:

What is not covered?  

Find out what investments or amounts are not covered by us.

Unfortunately, we can’t protect everything. Financial products that are not covered by us include:

What happens with securities transactions? 

If a bank is unable to meet its liabilities from securities transactions, investor compensation comes into effect. This covers 90% of liabilities up to a limit of 20,000 euros per investor. However, securities themselves are not covered.

Investor compensation and depositor compensation are two different procedures that operate independently of each other. Find out here how investor compensation works.

How much is covered? 

Find out here how much of your savings is protected.

Your deposits are guaranteed – up to 100,000 euros per person and bank.

This means:

• Several accounts at the same bank: Your deposits are added together and a total of up to 100,000 euros are covered.
   
• Accounts at different banks: This amount applies for each bank separately.

In addition, deposits related to certain life events are protected up to 500,000 euros (known as temporary high balances). This means if you have large sums of money in your account for a short period of time due to special events such as the sale of a privately used property or a severance payment, these are protected up to 500,000 euros and for a maximum of six months.

Examples of temporarily high deposits:

• the proceeds from the sale of private real estate
• payout of a life insurance policy
• compensation from claims relating to family or employment law (e.g. divorce settlements or severance payments)

Joint accounts are also covered. Each account holder is entitled to up to 100,000 euros.

Example: A married couple have a joint account with 80,000 euros. The woman also has an account with 30,000 euros, the man has an account with 70,000 euros. All three accounts are held at the same bank that is now insolvent.

The compensation amount would 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

How long after BaFin has determined that compensation is payable will you get your money?

You will get your money back via the EdB within seven working days from BaFin determining the compensation event. Specifically, how long it takes will depend, among other things, on the number of customers and the internal organisation of the bank.