Is my money at a foreign bank protected by the Dutch Deposit Guarantee?
The money in accounts at foreign banks operating in the Netherlands is protected by the deposit guarantee of the country of origin of that bank.
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Up to what amount is my money protected?
Your money is automatically protected, from 1 cent up to €100,000. This protection applies per person, per bank. Additional temporary protection applies when you buy or sell your house.
What is deposit guarantee?
Deposit guarantee means that the money in your bank accounts is guaranteed up to €100,000, even if your bank goes bankrupt. This protection does not apply to investment products, such as shares and bonds, insurance products and virtual currencies such as bitcoin. Protection varies in the following cases.
Joint accounts
Joint accounts are also protected from 1 cent up to €100,000 per person. So, if you and your partner have a joint account, then your maximum protection is €200,000.
One bank, multiple brand names
Most banks operate under a single brand name, but there are also banks with several brand names. The maximum amount of €100,000 applies per person, per bank. The money in the accounts you hold with the different brand names of the same bank is added together. This total amount is protected up to €100,000 per person. To check this, your bank can always provide an overview of the different brand names it uses.
Sample calculations
The following sample calculations clarify your protection in several situations.
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You and your partner hold a joint account |
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Suppose the balance in this account is €120,000. Both you and your partner can then claim €60,000. This is because the €100,000 maximum applies per person, per bank. Suppose one of the two account holders also has their own account with the same bank with a balance of €80,000. Then this account holder can claim €100,000 of the total amount of €140,000 (€60,000 + €80,000). In this case you are not fully protected. The other account holder will receive €60,000. |
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You hold multiple accounts |
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Suppose your savings account balance is €90,000, while you have €15,000 in your payment account with the same bank. Then you can claim €100,000 of the total of €105,000. This is because the total amount of your savings and/or payment accounts together will be compensated up to a maximum of €100,000 per person, per bank. |
Deposits held for buying or selling a house
Additional protection applies to a temporary deposit held for buying or selling a house. It covers an amount of up to €500,000 up to three months after the deposit is made. This guarantee is on top of the regular €100,000 guarantee.
Interesting articles
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Dutch people are insufficiently aware of deposit guarantee
The volume of savings at Dutch banks is rapidly increasing. At the same time, only a little over half of all Dutch people know about the protection of this money by the Dutch Deposit Guarantee. General awareness is lower among young people and women.
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95% of guaranteed savings deposits of bankrupt ATB now paid out
One month after the bankruptcy of Amsterdam Trade Bank (ATB), 95% of the guaranteed savings deposits have already been paid to ATB’s duped account holders. About 80% of all customers have applied for compensation.
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DNB activates deposit guarantee scheme for Amsterdam Trade Bank N.V. customers
On 22 April 2022, De Nederlandsche Bank (DNB) decided to activate the Dutch deposit guarantee scheme (DGS) for account holders of Amsterdam Trade Bank N.V. (ATB). DNB administers the Dutch Deposit Guarantee on behalf of the Dutch government.
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