In case DNB decides to activate the DGS, it is crucial to establish without delay whether deposit holders qualify for compensation. This is why banks participating in the DGS are required to submit reliable and accurate data before the specified deadline. These data include:
- Personal data to establish the identity of the deposit holder
- a comprehensive specification of a deposit holder's deposits
- markings indicating whether a specific deposit or depositor is eligible under the DGS
- Additional information needed to pay out DGS compensation; in case an account has been blocked, the reason has to be specified. This may be a marking relating to criminal convictions and offences such as a conviction for money laundering.
DNB decides, in an automated process where possible, whether you are entitled to compensation and for which amount. We base this on information received and DGS-legislation. It may be necessary for DNB to request additional information from you before a decision can be made. The reason for the requirement for additional information will be communicated to you. In case you do not agree with a decision, you may appeal.
Your personal data will be made available to the Deposit guarantee fund. This fund provides the financing for your reimbursement and the fund. For the same amount the fund takes over your claim on the bankrupt bank. The information may also be shared with the receiver of the bankrupt bank.
During normal business operation, DNB receives information from banks to determine accuracy, quality and completeness of the data. DNB can require this information for its so called ‘task carried out in the public interest’ (GDPR article 6e). These personal data will be retained by DNB for a maximum period of three months. The personal data received for an actual DGS payout situation DNB will be stored for 20 years.