How does it works

The maximum amount to be refunded is usually set at € 100,000 for each depositor, except some specific cases, which will be discussed later, in which the reimbursement might also be higher.

By way of example, if a depositor has a budget of € 65,000 and his bank is subject to LCA, FGD will reimburse the entire amount. If, however, the overall availability is € 123,000, FGD would reimburse € 100,000. This is because the amount of depositor's availability is higher than the maximum reimbursable limit (as mentioned, at € 100,000).

The limit of € 100,000 does not apply in the 9 months following their credit or at the time they are made available -to deposits of natural persons with amounts due from:

transactions relating to the transfer of property;

divorce, retirement, termination of employment, disability or death;

the payment of insurance benefits, compensation or indemnities in connection with damages for facts considered by law as offenses against the person or for unjust imprisonment.

These particular cases identify so-called "high-term temporary balances", namely the amounts due from transactions made by natural persons with a specific protection beyond € 100,000 for a period of 9 months after their credit or availability, above recalled. It is, in practice, special events in the life or work of a depositor. This means that a significant amount (even more than 100,000 euros) that, for example, transit through a current account, such as the sale of an immovable property or the credit of end of service payment due to the end of the employment relationship, is protected during the 9 months following its credit at the bank.

For more details on the terms and conditions of repayment, see the "Redemption Procedures" section.