Deposit guarantees
Danske Bank A/S is the biggest bank in Denmark. It trades in Ireland through its branch - National Irish Bank. Our customers sometimes ask whether their deposits with National Irish Bank are covered by a government guarantee. The short answer is yes.
We explain the detail below...
The Danish State Guarantee
All deposits held with National Irish Bank are covered by the Danish State guarantee. This is a general guarantee that was introduced in October 2008 by the Danish Government. It guarantees 100% of the funds held in a National Irish Bank deposit account, irrespective of amount. Because all deposit accounts with National Irish Bank are 100% covered by the Danish State Guarantee, there is no need for those deposit accounts also to be covered by Ireland's similar State guarantee.
The Danish State guarantee will expire on the 30th of September 2010.
Deposit Protection Schemes
All ordinary deposit accounts with National Irish Bank are also covered, with combined protection under the Danish Guarantee Fund for Depositors and Investors and the Irish Deposit Protection Scheme up to a maximum of €100,000 per depositor, per institution. These protection schemes pre-date both the Irish and the Danish state guarantees.
Further information
For further information on the Danish State Guarantee, please click here.
For further information on the Danish Guarantee Fund for Depositors and Investors, please click here.
For further information on the Irish Deposit Protection Scheme, please click here.
This document is not intended as legal advice and should not be relied upon as same. This document is correct as of the 9th of December 2009.