Deposit guarantee scheme
What is the deposit guarantee scheme?
The deposit guarantee scheme was created to protect savers against the risk of
bankruptcy of savings banks. This scheme applies to banks that are established
in the Netherlands and operate under a licence issued by De Nederlandsche Bank.
It guarantees that (until 31-12-2010) credit balances in the Netherlands of up
to € 100,000 are repaid in the event that the bank where the money is deposited
is declared bankrupt. This amount applies per person per banking institution,
regardless of the number of accounts.
Who are covered by the deposit guarantee scheme?
As part of LeasePlan Corporation N.V., LeasePlan Bank is covered by De
Nederlandsche Bank's deposit guarantee scheme.
In principle all private individuals are eligible for compensation under the deposit guarantee scheme. However, a small group of private individuals are excluded from compensation, among whom directors of banks with payment problems, individuals holding a 5% or larger stake in those banks and the direct family members of those individuals. Certain categories of enterprises are also excluded, such as financial institutions and governmental bodies.
Not only private internet savings accounts and deposits fall under the deposit guarantee scheme. It also covers business internet savings accounts and term deposits. However, this only applies for legal entities which are entitled to keep a summarised balance sheet.
These legal entities are required to meet at least two of the following three criteria:
- a balance sheet total of € 4.4 million or less
- a net turnover of € 8.8 million or less
- in average number of employees of 50 or less over the course of the financial year.
Legal entities that do not meet these criteria are not covered by the deposit guarantee scheme.
Private savings
Business savings
