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 Novo Banco, S.A., S.E.
All branches of EU-banks operating in Spain participate in
deposit guarantee schemes of their home countries. This means that Novo Banco, S.A., S.E.
participates in the deposit guarantee scheme of Portugal.
Novo Banco, S.A., S.E. is a member of Fundo de Garantia de Depósitos (FGD) and makes its contributions into it. In the case of Novo Banco, S.A., S.E. failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
insurance and reinsurance undertakings
collective investment institutions
public sector entities
supranational or international bodies
time deposit accounts
certificates of deposit
cash holdings resulting from transitional situations arising from normal banking operations
EUR (Euro)foreign currencies
all currencies, namely
Fundo de Garantia de Depósitos (FGD)
Av. da República, 57 – 2º, 1050-189 Lisboa , Portugal
+351 21 313 01 99
+351 21 310 78 45