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 Andorra Banc Agrícol Reig, SA
All credit institutions operating in Andorra are obliged to participate in
Andorran deposit guarantee scheme.
Andorra Banc Agrícol Reig, SA is a member of Andorran Deposit Guarantee Fund (Fagadi) and makes its contributions into it. In the case of Andorra Banc Agrícol Reig, SA failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
Temporary High Balance
citizens of Andorra
residents of Andorra
registered in Andorra
banks investment companies collective investment entities asset management companies members of the general management etc.