Is my financial institution a member of the Deposit Guarantee Scheme?

05/09/2023

When opening an account or making a deposit, it is normal to ask ourselves if the entity in which we intend to do so is backed by the Deposit Guarantee Scheme (FGD). In this post Abre en ventana nuevawe told you how important it is to have that guarantee.

Now, in this video, we explain which entities are members of the FGD:

• All Spanish credit institutions are required to join the Credit Institutions Deposit Guarantee Scheme (FGD).
• Branches of credit institutions from other European Union Member States are already members of their own country's guarantee scheme, so they are not required to join, and their level of coverage is the same as that of the FGD.
• In the case of branches of credit institutions in non-EU Member States, they must join the FGD if the protection of their guarantee fund is lower than that offered by the FGD (for example, if in their country the amount covered is less than €100,000).  

For any questions, the FGD has a search engineAbre en ventana nueva on its website where you can easily consult which entities are members of the FGD.

Link to the video: https://youtu.be/Eu4aAFxAO-A?si=G-WbqoUKrz7eqJfa