Sparkasse Dortmund

Deposit Guarantee

Deposit Guarantee
Yes (up to 100,000 EUR per depositor)

Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.

Deposit Guarantee in Sparkasse Dortmund

All credit institutions operating in Germany are obliged to participate in German deposit guarantee scheme.

Sparkasse Dortmund is a member of Institutional Protection Scheme of the Savings Banks Finance Group and makes its contributions into it. In the case of Sparkasse Dortmund failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors
individuals
partnerships
companies of any size
Non-Eligible Depositors
credit institutions
financial institutions
investment firms
public authorities
Covered Accounts
all deposit accounts, including
  • current accounts
  • savings accounts
  • term deposit accounts
  • overnight money or time deposits
  • registered savings bonds
  • and similar
Covered Currencies
all currencies, namely
  • EUR (Euro)
  • foreign currencies
Maximum Protected Amount
100,000 EUR
Temporary High Balance
500,000 EUR
Paid In Currency
EUR

Further Information