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 Finanmadrid, S.A., E.F.C.
All credit institutions operating in Spain are obliged to participate
in Spanish deposit guarantee scheme.
Finanmadrid, S.A., E.F.C. is a member of Fondo de Garantía de Depósitos de Entidades de Crédito (FGD) and makes its contributions into it. In the case of Finanmadrid, S.A., E.F.C. failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
portfolio management companies
venture capital companies
current accountssavings accountstime-deposit accounts
credit balances on accounts, including
EUR (Euro)foreign currencies
all currencies, namely
Fondo de Garantía de Depósitos de Entidades de Crédito (FGD)
Jose Ortega y Gaset 22, 28006 Madrid Madrid, Spain
+34 91 431 66 45
Banking Products in Spain
8 September 2015
8 November 2017
18 December 2018