Banking and financial institutions - banks, investment firms or financing companies - operating in France are members of and contribute to the Fonds de Garantie des Dépôts et de Résolution (FGDR) and are licensed by the Prudential Supervision and Resolution Authority (ACPR ).
Their membership in the FGDR is a prerequisite for conducting their business. In the event that one of them fails, the FGDR protects and compensates its customers through three mechanisms: the deposit guarantee scheme, the investor compensation scheme and the performance bonds guarantee scheme.
Each FGDR member institution is identified by an INSTITUTION CODE.
- For a bank: see the first five digits of your account’s IBAN.
- For a financing company or investment services provider, see your account statements or ask your advisor for the INSTITUTION CODE.
To check whether your institution is a member of the FGDR and to identify the guarantee mechanism(s) under which you are covered, use the search engine below.
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BANK MELLI IRAN
BNP PARIBAS SECURITIES SERVICES
BANQUE CHAABI DU MAROC
CA CONSUMER FINANCE
NBK France SA
AL KHALIJI FRANCE
What coverage is provided under the deposit guarantee scheme for banks operating in France and abroad?
Banks and subsidiaries of foreign banks in France
For their entire network in France and Monaco, the FGDR covers:
Banks licensed in mainland France, including subsidiaries of foreign banks whose head office is located in mainland France or in the overseas territories (Guadeloupe, French Guyana, Martinique, Mayotte, Réunion, Saint Pierre and Miquelon, Saint-Barthélemy, Saint-Martin, French Polynesia, New Caledonia, Wallis and Futuna).
Branches/sales offices of member institutions in France located in countries of the European Union and the EEA
The FGDR covers the branches (or sales offices) based in the member countries of the European Union and the European Economic Area (EEA) of all banks licensed in mainland France and overseas.
Banks whose head office is located in Monaco
The FGDR covers banks/credit institutions whose head office is located in the Principality of Monaco, as well as their branches in France, the Principality of Monaco and the other countries of the European Union and the European Economic Area.
Institutions covered by the FGDR and Brexit
Customers of a UK-based branch of a bank licensed in France are covered by the French guarantee scheme (FGDR) until the United Kingdom definitively leaves the European Union (at the end of the transition period on 31 December 2020). The UK then plans to maintain coverage by the British guarantee scheme (FSCS) based on conditions similar to those of the FGDR.
France-based branches of a UK bank and Brexit
Customers of a France-based branch of a UK bank are currently covered by the British guarantee scheme (FSCS). After the UK definitively leaves the EU (at the end of the transition period on 31 December 2020), they will be covered by the French deposit guarantee scheme (FGDR) in the same way as all customers of banks licensed in France, under conditions similar to those of the FSCS.
Frequently asked questions
Are online banks covered by the FGDR?
As a general rule, the deposit guarantee applies to all institutions that are members of the FGDR, including those operating as online banks.
The benefit of the deposit guarantee scheme up to €100,000 per customer, per institution only applies once within the same banking institution operating under several trademarks.
FGDR member institutions increasingly offer remote banking services.
You will therefore need to find out from your bank whether your online service is operated under a banking institution with the same name or if this service was created as a trademark of a banking institution with another name, and which one.
All accounts with the same “Bank code” are added together under the €100,000 ceiling since they are held by the same banking institution.
→ Refer to the “Check if your bank is protected” section using the “Bank code” shown on your bank account details.
Are foreign banks operating in France covered by the FGDR?
- If a foreign bank, regardless of its country of origin, operates in France in the form of a subsidiary, i.e. a company legally separate from its shareholder, the subsidiary operates in France as a French bank, is a member of and is covered by the FGDR.
- If the foreign bank has its head office in another country of the European Economic Area (EEA) and operates in France through a branch (i.e. a sales office of a physical place of business that is not legally separate from its parent company), the foreign branch is covered by the guarantee scheme of the country of the parent company.
→ Refer to the “Check if my bank is protected” section
Is the branch of a French bank located in another country of the EEA covered by the FGDR?
If a French bank operates in another EEA country through a branch, that European branch is covered by the FGDR, since the FGDR is the guarantee scheme of the parent company.
Within the European Union, guarantee schemes cooperate to compensate customers under the best operational conditions.
Are payment institutions and electronic money institutions covered by the FGDR?
These institutions – called PI/EMI – are not covered by the deposit guarantee scheme since they are not banks and are therefore not members of the FGDR.
However, customer funds are protected either by special insurance taken out by the institution or through a ring-fenced account opened at a bank in which these funds are kept separate. If the payment institution fails, customer funds are protected by these mechanisms (see Article L. 522-17 of the French Monetary and Financial Code). The FGDR is not involved.
The FGDR would become involved only if the bank at which the payment institution opened a ring-fenced account were to fail. In this case, the FGDR’s deposit guarantee would apply to the entire ring-fenced account, up to a maximum of €100,000 for each of the PI/EMI's customers.