In the Netherlands if your bank has gone bankrupt, you are covered by the Dutch Deposit Guarantee scheme of the Dutch Central Bank (De Nederlandsche Bank, DNB). With the Dutch Deposit Guarantee amounts of up to €100,000 in your bank accounts are protected. This means you will get this money back.
What is the Deposit Guarantee scheme?
The deposit guarantee scheme protects deposits on your bank accounts with Dutch banks. If your bank goes bankrupt, DNB makes sure you get your money back, up to €100,000 per person and per bank. Not all financial products are covered by this scheme, but nearly all savings account, current accounts and term deposits are. Please contact your bank to make sure your specific financial product is covered.
Conditions for the Dutch Deposit Guarantee
You must satisfy several conditions to make use of this scheme:
- Your bank is registered in the Dutch deposit guarantee scheme register.
- Your business account is covered by the Dutch Deposit Guarantee, not by a foreign deposit guarantee scheme.
- You are the account holder.
All banks with a Dutch banking licence are covered by the Dutch Deposit Guarantee.
When is your business account protected separately from your personal account?
In some cases your business account is protected separately from your personal account. It depends on your business structure. If your business is not a legal person, your account falls under the 1 person per bank principle.
If for instance, you are a sole proprietor, your business account and personal account with the same bank are viewed as belonging to the same person. The deposits of these accounts are thus counted as if they are from one account. Your deposits will be compensated up to €100,000 in total.
Is your company a corporate (legal) person? For instance a foundation or a private limited company? Then your business account is protected separately from your personal account, even if these accounts are with the same bank. You can get a reimbursement of up to €100,000 for each of these accounts.