FirstRand Bank Limited, Guernsey Branch

Deposit Guarantee

Deposit Guarantee
Yes (up to 50,000 GBP 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 FirstRand Bank Limited, Guernsey Branch

All credit institutions operating in Guernsey are obliged to participate in Guernsey's deposit guarantee scheme.

FirstRand Bank Limited, Guernsey Branch is a member of Guernsey Banking Deposit Compensation Scheme and makes its contributions into it. In the case of FirstRand Bank Limited, Guernsey Branch failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Maximum Protected Amount
50,000 GBP
Eligible Depositors
natural persons
trustees of a Guernsey Retirement Annuity Trust
Guernsey-registered charity
sole traders
Non-Eligible Depositors
Covered Accounts
deposits by a natural person for his own benefits
account held by a parent for the benefit of his/her child
Paid In Currency

Guernsey Banking Deposit Compensation Scheme

Dorey Court, Admiral Park, St Peter Port, Guernsey, GY1 4AT
+44 (0) 1481 722756

Further Information

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