FAQ Deposit Guarantee Scheme (DGS)

What is the amount reimbursed by the DGS?
The deposit guarantee scheme will reimburse up to a maximum amount of €100.000 per account holder per bank, regardless of the number of accounts you have with that bank. 
You will never be reimbursed more than the total balance that you have in a bank. Therefore it does not matter how many accounts you have with us. In case you have several accounts, to calculate the total amount add the balances of several accounts. Is the total balance of all accounts you have with us less than €100.000 for example €70.000? Then this amount of €70.000 will be reimbursed to you. Is your total balance more than €100.000? Then you will be reimbursed for €100.000.


Who is eligible for reimbursement by the deposit guarantee scheme?
The following persons and entities are eligible for reimbursement by the DGS:

  • Individuals, including minors

  • Sole proprietorships. Assets of the sole proprietorship and the same private person are considered as one person, accordingly the funds are added together to calculate the maximum coverage. Example: An accountholder has two accounts, one business account for his one-man business with a credit of €50.000 and one private account with his partner of €5.000. The account holder can apply to reimburse a maximum of €52.500 according to the deposit guarantee scheme.

  • Legal entities regardless of size: this means that both small businesses and large business enterprises can independently claim the guarantee. Foundations and associations can also have an independent claim according to the deposit guarantee scheme. Examples of legal entities: a limited liability company (N.V.), private company with limited liability (BV), foundation, association, cooperation, guarantee association, religious organization. HOA's (Homeowners Association) and general partnerships (partnership) have, in many cases an individual right under the deposit guarantee scheme. If you have a share in a HOA or general partnership, you cannot (related to your own share) make a claim on the deposit guarantee scheme on behalf of yourself; that will need to be done by the HOA or general partnership.

The following account holders are not eligible for the guarantee scheme:

  • Financial institutions such as banks, investment firms, (re) insurance, (managers of) investment funds or undertakings for collective investment in transferable securities (UCITS) and pension funds.

  • Governments 

On De Nederlandsche Bank's website (website of the Dutch Central Bank) you can find the full list eligible persons/entities for reimbursement by the deposit guarantee scheme.
 
How does reimbursement through the deposit guarantee scheme with joint account (an ‘and/or’ account) or trust account work?

  • Joint (and/or) accounts: If there are several account holders, each account holder is eligible for the protection of the deposit guarantee scheme. The deposit guarantee scheme applies a proportional reimbursement at a ‘and/or’ account. If there are two account holders, it is assumed that each account holder is eligible for half the credit balance on the account. If the balance of and/or account is €200.000 both account holders can claim €100.000. However  please note that if an account holder has one or more accounts exceeding the maximum reimbursement amount of €100.000 the customer can be reimbursed only for maximum  €100.000. 
Example 1: You have two accounts at DEMIR-HALK BANK (Nederland) N.V. with amounts of €50.000 and €70.000 each. Together this represents a credit of €120.000. The maximum compensation you will receive under DGS is €100.000. 

Example 2: You have an ‘and/or’ account at DEMIR-HALK BANK (Nederland) N.V. together with your partner, with a credit of €150.000. You have an additional private account at DEMIR-HALK BANK (Nederland) N.V. with a credit of €60.000. Your partner does not have any other account at DEMIR-HALK BANK (Nederland) N.V. Your partner receives half of €150.000, thus €75.000 is covered by DGS for him/her. You have a credit balance of €135.000 in total (€75.000+ €60.000). The coverage of DGS for you is maximum €100.000.
 
  • 'Trust accounts': An account that an accountholder holds for you and any other person. The balance of this account can under certain circumstances (partly) qualify for compensation under DGS. An example of a trust account is the account of a notary related to the purchase or sale of real estate. The part that is eligible for the guarantee will be included in the calculation of your claim (up to €100.000 for the total assets per account holder per bank).

 
For which products are reimbursement by the deposit guarantee scheme is applicable?
The following products are covered by the deposit guarantee scheme:

  • payment and savings accounts and time deposits.
  • Savings account related to own property (bank savings account) without an own home debt. The loan is then relieved with the sale of the respective house.
  • Savings account related to own property (bank savings account) using a relocation scheme. Your savings balance is guaranteed up to a maximum amount of €100.000 (for which all credits per account holder per bank should be added).

The below product is not covered by the deposit guarantee scheme:

  • Savings account related to own property (bank savings account) with a private house debt. On the basis of the law, this debt will be deducted from the balance (savings), mostly leaving no balance on that particular account.

How is the payment of reimbursement executed by the deposit guarantee scheme?
You can apply to the Dutch Central Bank, which is entitled to execute the guarantee scheme, to claim reimbursement according to DGS. The reimbursement will be effected within 20 working days. On the website of the Dutch Central Bank, you will find more information.
 

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