Consumers and supervision

Every individual taking out insurance cover assumes that the insurer is able to pay up if the worst comes to the worst. Pensioners assume that their pensions will be duly transferred to their accounts each month. And every worker who has their salary paid into a bank account should be able to rest assured that their money is in safe hands. The Nederlandsche Bank (DNB) works to ensure a reliable financial system in which institutions meet their obligations.

Banks offer a wide range of financial services: from loans to savings products and from mortgages to investment accounts. Before you decide to bank with a firm, you will do well to check out a few things, such as what conditions a certain product or service carries, or whether the bank has been granted authorisation.

Everyone living or working in the Netherlands builds up pension under the Algemene Ouderdomswet or AOW (General Old Age Pensions Act). In addition, one can build up supplementary pension through a pension fund or life insurance company. It is the responsibility of De Nederlandsche Bank (DNB) to supervise these institution.

When taking out an insurance policy, you may want to check a few things in advance, such as: What risks does your insurance cover? What are the conditions applying to the policy? Is the company an authorised insurer? The Nederlandsche Bank (DNB) authorises insurers that meet statutory requirements and monitors their compliance with the rules.

The Deposit Guarantee Scheme guarantees certain deposits held by accountholders of a bank that becomes unable to meet its obligations. Accountholders may claim reimbursement of their deposits, provided they meet certain conditions.

Financial undertakings such as banks, (re)insurers, pension funds and Collective investment schemes must have an authorisation to be active on the financial markets. These undertakings can be found in the undermentioned overview (register).