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31 May 2022 General
Vrouw met oldtimer

The money in bank accounts at foreign banks operating in the Netherlands is protected by the deposit guarantee of the country of origin of that bank. In that case your money is also protected up to €100,000 or equivalent in the local currency. Your bank can tell you which deposit guarantee applies: the Dutch Deposit Guarantee or a Deposit Guarantee of another country.

Equivalent protection

Within the European Union, it has been agreed that the deposit guarantee offers equivalent protection in all countries. Within the euro area, your money is always protected up to €100,000 with each bank. In non-euro countries within the European Union, Iceland, Liechtenstein and Norway, the €100,000 may be converted into the local currency of that country. In these cases, small differences may arise due to exchange rate fluctuations.

Banking licence

Foreign banks can be active in the Netherlands in several ways. The manner of operation determines by which deposit guarantee your money at this foreign bank is protected.

- Some foreign banks operate through a so-called subsidiary. This subsidiary operates under a Dutch banking licence and is in fact a Dutch bank. The money in this bank is therefore protected by the Dutch Deposit Guarantee.

- A foreign bank can also operate in the Netherlands without setting up a subsidiary here. The bank then operates through a branch or a cross-border service. In almost all cases, these are banks from other countries within the European Union, Iceland, Liechtenstein and Norway. In this situation, your money at the bank is protected by the deposit guarantee of the country from which the bank operates.

How do you get your money back?

When your money is protected by a deposit guarantee from another country, it may take longer to get your money back after a bank has failed. For customers in the Netherlands, the Dutch Deposit Guarantee provides security for a payout period of 10 business days, during which you can easily get your money back using your DigiD.

If you are a customer of a branch of a foreign bank in the Netherlands, it may take longer to get your money back. The compensation is paid via DNB.

If you are a customer of a foreign bank operating in the Netherlands through a cross-border service, the compensation is paid via the deposit guarantee of the foreign bank. In that case, you should ask your bank about the procedure.

Information sheet

You can always contact your bank to find out which deposit guarantee protects your money.

Each bank has a deposit guarantee information sheet. This information sheet shows, among other things, which Deposit Guarantee protects your money and up to what amount in which currency.

Want to find out more?

DNB is the executor of the Dutch Deposit Guarantee. See also these pages with more information.