Sparisjóður Strandamanna ses.

Deposit Guarantee

Deposit Guarantee
Yes (up to 1,700,000 ISK 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 Sparisjóður Strandamanna ses.

All credit institutions operating in Iceland are obliged to participate in Icelandic deposit guarantee scheme.

Sparisjóður Strandamanna ses. is a member of Icelandic Depositors’ and Investors’ Guarantee Fund (TIF) and makes its contributions into it. In the case of Sparisjóður Strandamanna ses. failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Maximum Protected Amount
1,700,000 ISK
Covered Accounts
any credit balance resulting from financial deposits or transfers in normal banking transactions
Paid In Currency

Icelandic Depositors’ and Investors’ Guarantee Fund (TIF)

Borgartún 35, IS-105 Reykjavík, Iceland
+354 591 0500

Further Information

See Also

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