Public awareness of the Dutch Deposit Guarantee grows to 68%

Public awareness is a precondition for an effective deposit guarantee, as it contributes to minimising the risk of bank runs and boosting the resolvability of failing financial institutions. The more certain depositors are that, in case of a bank failure, they will be able to access their deposits within seven working days, the lower the risk that they will be inclined to withdraw their money if a bank runs into difficulties. Savings in the Netherlands have grown sharply in the past few years and at the end of 2024 reached an all-time high of €623 billion. It is, therefore, essential for financial stability in the Netherlands that depositors are familiar with the Dutch Deposit Guarantee. This sentiment is also reflected in a recent study conducted by the Netherlands Authority for Consumers and Markets (ACM). 

Surveys and public awareness campaigns

Both the Dutch government and DNB, as the administrator of the Dutch Deposit Guarantee on behalf of the government, believe it is important that people in Netherlands know their money in their bank account is automatically protected from 1 cent to €100,000. This protection serves to enhance economic stability and sustainable prosperity in the Netherlands.

An initial survey conducted in 2017 showed that only 54% of the Dutch population was familiar with the Dutch Deposit Guarantee. DNB realised that this had to change. Since 2019, DNB has worked with Dutch banks to boost awareness among the Dutch population of how the Dutch Deposit Guarantee works. In 2020, DNB even set a goal to increase public awareness of this topic to 70% by the end of 2024, and developed various awareness campaigns. Together with various Dutch banks, DNB worked on creating harmonised information across all platforms and websites, and, in 2021, DNB focused on active public outreach activities, including a fully revamped website for the Dutch Deposit Guarantee. This active public awareness campaign mostly takes place online and was initially aimed at a broad audience. However, in response to survey results, DNB decided to shift its focus more to specific target groups where familiarity with the Dutch Deposit Guarantee appeared to be lowest. All these different activities have contributed to making information more accessible to all groups of the Dutch population.

Survey results

The annual survey from 2024 showed the positive effects of DNB’s public awareness activities from previous years. Currently, familiarity with the Dutch Deposit Guarantee among the Dutch population has reached 68%. This means the Netherlands is one of the top countries in Europe which are working on boosting public awareness.

Among other positive developments, 74% of survey respondents said that they are aware that they will get their money back up to a maximum amount. In 2023, this percentage was only 69%. Additionally, 61% of respondents indicated that they would first familiarise themselves with the situation before taking steps if their bank were running into difficulties. This is up from 55% the year before.

Public awareness among different target groups

However, the same annual survey also reveals that much can be gained when it comes to awareness among different population groups. Awareness of the Dutch Deposit Guarantee among adolescents and women is much lower compared to that of men in higher age brackets. Recent results from late 2024 show that only 53% of adolescents and 59% of women have heard of the Dutch Deposit Guarantee, compared to 78% of older people and 74% of men.

In recent years, DNB’s communication strategy has focused on reaching these target groups by utilising different communication channels than in previous years, including online video and social media. In the spring and autumn of this year, DNB will continue its outreach activities to boost public awareness. A new feature is the exhibit about money, gold and the economy at DNB’s recently renovated headquarters at Frederiksplein in Amsterdam. Visitors will be able to learn more about the Dutch Deposit Guarantee in a new, interactive and innovative way. For more information, please see the website of De Nieuwe Schatkamer.

Next steps

Despite last year’s good results, there is still much to be done. The goal remains to increase public awareness to 70% and keep it at that level. After all, the more people are familiar with the Dutch Deposit Guarantee, the better. DNB sees opportunities to continue working together with the Dutch banking sector to enhance public outreach on this important topic. This is especially relevant in an era of digitalisation, where internet banking and banking apps can function as new platforms where people can learn about the automatic protection of their money in case of crises.

More information

All information for the sector regarding public awareness, such as the toolkit for banks, can be found at Public awareness of the Dutch Deposit Guarantee | De Nederlandsche Bank. You can also find the video that was used in last year’s awareness campaign.