2 - What is the maximum compensation amount under the deposit guarantee scheme?

In France and throughout the European Union, the amount of the compensation under the deposit guarantee scheme is capped at €100,000 per customer, per institution.

 

Products covered by the deposit guarantee scheme

The guarantee covers all deposits, savings and other accounts held by a customer at a single institution, regardless of the currency in which they are denominated:

  • current accounts, deposit accounts, demand and term accounts with a credit balance;
  • savings accounts and savings plans (Compte Epargne Logement (CEL) savings account, Plan d’Epargne Logement (PEL) savings plan, Plan d’Epargne Populaire (PEP) savings plan, etc.);
  • Livret Jeune savings accounts;
  • cash accounts associated with an equity savings scheme (PEA), a pension savings scheme (PER) or equivalent held at a bank;
  • bank cheques issued and not cashed;
  • the total net balance of factoring transactions.

 

SPECIAL SCHEMES: SAVINGS ACCOUNTS

All amounts deposited in savings accounts guaranteed by the French government are covered up to a maximum of €100,000 per customer, per institution:

  • Livret type 'A' savings accounts (and Livret type ‘Bleu’ savings accounts in the Crédit Mutuel network);
  • Livret type ‘LDDS’ savings accounts;
  • Livret d’Epargne Populaire (LEP) savings accounts.

 

The French government guarantee is independent and is added to the FGDR's deposit guarantee. The FGDR pays compensation for these savings accounts at the request and on behalf of the French government.

To learn more about the products covered, refer to the "Deposit Guarantee" section