Deposit guarantee schemes

The deposit guarantee scheme reimburses a maximum of € 100,000 per account holder per bank, regardless of how many accounts you hold. ABN AMRO Bank N.V. has a banking licence that covers the brand names ABN AMRO, ABN AMRO MeesPierson and MoneYou. To calculate the amount to be reimbursed under the deposit guarantee scheme, you therefore have to add up all your deposits held at these various parts of the bank. Your maximum reimbursement will be € 100,000 or the net value of your deposits should this amount be below this maximum.

It makes no difference how many accounts you hold with us. To calculate your total balance, add up the balances on all your accounts at our bank. If your total balances are below € 100,000 (say, for example, € 70,000), your maximum reimbursement will be € 70,000. Is the total more than € 100,000? You will then receive maximum reimbursement of € 100,000.

Example 1:
You have various accounts at ABN AMRO with a total balance of € 90,000, as well as an account at MoneYou with a balance of € 7,000. Under the deposit guarantee scheme you will be eligible for reimbursement of € 97,000.

Example 2:
You have various accounts at ABN AMRO with a total balance of € 95,000, as well as an account at MoneYou with a balance of € 12,000. Under the deposit guarantee scheme you will be eligible for maximum reimbursement of € 100,000.

Exception:
guarantee for temporary high balances for sale/purchase of a house, if you have a credit balance relating directly to the purchase or sale of an owner-occupied property, a guarantee of up to € 500,000 will apply temporarily. This additional guarantee applies for three months from the date on which the amount was deposited.

Eligible for coverage under the  deposit guarantee scheme are:

• Private individuals: i.e. natural persons, including minors.

• Sole traders: Deposits held by a private individual who is also a sole trader are treated as being held by one and the same person. They are therefore added together to calculate the maximum cover available.

Example:
Peter Jones has two accounts: one for his sole-trader business (trading under the name of Peter Jones’ Butchers) with a credit balance of € 80,000, and one held jointly with his wife (in the name of Peter Jones and Samantha Jones) with a credit balance of € 15,000. Peter Jones is eligible for maximum reimbursement of € 87,500 under the deposit guarantee scheme.

• Legal persons, regardless of their size; i.e. small businesses and large corporates are equally entitled to reimbursement under the guarantee scheme. Foundations (stichtingen) and associations (verenigingen) are also separately eligible for reimbursement under the deposit guarantee scheme.

The following account holders are not covered by the deposit guarantee scheme:

• Financial institutions such as banks, investment companies, (re)insurance companies, investment funds and investment fund managers, UCITS and pension funds

• Government agencies
  

You can find full details of who is covered by the deposit guarantee scheme on the DNB website.

• Joint accounts: if an account is held in more than one name, each account holder is separately eligible for reimbursement under the deposit guarantee scheme. In case of two account holders, the deposit guarantee scheme assumes that each account holder is entitled to half of the balance. If the balance on the joint account is € 200,000, each account holder is in principle eligible for reimbursement of € 100,000. Please remember that if an account holder has one or more other accounts, the maximum of € 100,000 applies to all the deposits jointly.
  Example 1:
  You have two accounts at ABN AMRO with balances of € 50,000 and € 70,000 respectively. This adds up to a total balance of € 120,000. You will therefore be reimbursed for a maximum of € 100,000 under the scheme.
  Example 2:
  You and your husband have a joint account at ABN AMRO with a balance of € 150,000. You also have another ABN AMRO account, in your own name, with a balance of € 60,000. Your husband does not have any other accounts at ABN AMRO. He will be reimbursed for half of € 150,000; i.e. € 75,000. Your total balance is € 135,000 (€ 75,000 + € 60,000). That means you will be reimbursed for a maximum of € 100,000 under the Deposit Guarantee scheme.

• Third party Clients’ account, i.e. an account held by an account holder for you and possibly other people: in certain circumstances the balance on this account may be eligible (or partly eligible) for reimbursement under the deposit guarantee scheme. An escrow account held by a notary for property purchases and sales is an example of a third party clients’ account. The amount eligible for reimbursement is included in calculating your overall entitlement (i.e. up to € 100,000 for the total credit balances per account holder per bank).
  

In general, the following products are covered by the deposit guarantee scheme:

• payment accounts, savings accounts and term deposits.

• current account
• savings account
• deposit account
• rental guarantee account

The Dutch deposit guarantee scheme applies to ABN AMRO and the following subsidiaries offering products under various brand names:

• ABN AMRO Bank N.V.: this covers deposits at ABN AMRO, ABN AMRO MeesPierson and MoneYou and their branches in Belgium, the United Kingdom, Germany and Austria.

ABN AMRO issues its own Depositor Information Template​ (PDF 103 KB) on the deposit guarantee scheme. This Depositor Information Template also contains important information about the licence. A reference to the Depositor Information Template will shortly also be included on your ABN AMRO bank statements (if these are being sent to you by the bank). The information in the Depositor Information Template may be relevant for determining the total reimbursement you are eligible for. You will receive this Depositor Information Template from the bank, or a reference to the Depositor Information Template, at least once a year.

Some of our subsidiaries are covered by the rules of the national deposit guarantee schemes in the countries in which they are registered. This applies to :

• Bethmann Bank AG in Germany;

• Banque Neuflize OBC in France;

• ABN AMRO Bank Luxembourg S.A. in Luxembourg.

Please consult the information provided by these subsidiaries.

Please contact De Nederlandsche Bank (DNB) if you are eligible for reimbursement under the deposit guarantee scheme as DNB is responsible for operating the scheme. You will receive reimbursement within 20 working days. You can find more information on payments under the deposit guarantee scheme on the DNB website.

 ABN AMRO has a banking licence from the De Nederlandsche Bank (DNB). Under the Belgian and Dutch legislation you are entitled to claim under the deposit guarantee scheme and also under the investor compensation scheme. Under the latter scheme, your credit balances and amounts owed to you in respect of certain investment services are eligible for reimbursement up to a specific maximum if we cannot meet our financial obligations.

The investor compensation scheme protects natural persons and small businesses that have money or investment products at a financial institution such as ABN AMRO Bank N.V. The maximum amount that can be reimbursed is € 20,000 per person per financial institution. This scheme comes into effect if an insolvent financial institution has not complied with the asset separation rules. If a financial institution becomes insolvent, the Authority for the Financial Markets (AFM) checks whether the institution has complied with these rules. Assets are separated so that credit balances and investment products on investment accounts can be kept out of a bank’s bankruptcy. DNB is responsible for operating this scheme. You can find more information about the investor compensation scheme on the AFM and DNB websites (Please note text is in Dutch).