1 - What should I do if I learn that my bank has failed?

You do not need to take any action that involves your bank or the FGDR. On the "deposit unavailability" date, the institution is declared as having failed and customers lose access to their accounts and use of their payment instruments (cheque books, cards). Compensation by the FGDR is initiated automatically.


The institution prepares the customer account statements as of the failure date and sends you a final account statement. It then sends this information to the FGDR, which uses it to determine your compensation amount. During this time, the FGDR informs customers of the initiation and status of the procedure on its website. It answers questions via its call center.


FGDR compensation process

The FGDR issues compensation to recipients within 7 business days for the deposit guarantee scheme and 3 months for the investor compensation scheme. This period may be extended only in cases where special processing is requested. Similarly, the FGDR handles the entire compensation procedure if the investor compensation scheme also becomes effective.


You are responsible for opening or reactivating an account at another bank as quickly as possible in order to complete your day-to-day transactions and collect your compensation. The bank's failure causes your accounts and the associated payment facilities (bank card, cheque book) to be blocked. 


We recommend that you keep your bank informed of any change in name, postal address, email address or telephone number for yourself or those in your care. This information is needed to ensure that your bank is able to contact you and for the FGDR to compensate you quickly. Otherwise, you may not receive compensation.