Bank goes bust: is my money gone? Deposit insurance
What happens to my money if the bank goes bust? This worry is understandable, but for most savers it is unfounded: the statutory deposit insurance protects your savings up to a fixed limit.
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What you should do now
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1. Check what is protected
Is it a deposit (account, savings book, fixed-term deposit)? Those are secured up to 100,000 euros per bank.
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2. Think per bank
The limit applies per bank; if necessary, spread larger amounts across several institutions.
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3. Classify securities
Stocks, funds and ETFs are segregated assets and remain your property even if the bank fails.
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4. In an emergency
If a bank fails, the compensation is usually handled automatically through the guarantee scheme.
Frequently asked questions
How much money is protected if a bank goes bust?
The statutory deposit insurance protects your deposits up to 100,000 euros per customer and bank (EU-wide). This includes balances in checking, instant-access and savings accounts as well as fixed-term deposits. In special life situations (for example after selling a house) higher amounts can be temporarily protected.
Are my stocks and funds protected too?
They do not fall under deposit insurance, but they do not need that protection: securities such as stocks, funds and ETFs are segregated assets, that is, your property, and are separate from the bank's assets. Even if the bank fails, they remain yours and can be transferred to another securities account.
Take action now
We put together the ready-made texts and the right places to contact for you.
General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.