Novo Banco, S.A., S.E. (formerly Banco Espírito Santo, S.A., S.E.)

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 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:

Eligible Depositors
natural persons
legal entities
Non-Eligible Depositors
credit institutions
investment companies
financial institutions
insurance and reinsurance undertakings
collective investment institutions
pension funds
public sector entities
supranational or international bodies
Covered Accounts
current accounts
savings accounts
time deposit accounts
housing savings
retirement savings
certificates of deposit
cash holdings resulting from transitional situations arising from normal banking operations
Covered Currencies
all currencies, namely
  • EUR (Euro)
  • foreign currencies
Maximum Protected Amount
100,000 EUR
Paid In Currency
EUR

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

Further Information