Is Deposit Guarantee Scheme per account or per customer?

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johnnyg

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Sorry got my answer:

From the Irish Deposit Scheme
Limits on Compensation
The maximum amount payable to any depositor is 90 per cent. of the aggregate deposits held by that depositor subject to a maximum compensation payment of €20,000. Thus, a depositor with a deposit account totalling €5,000 would receive compensation of €4,500 while a depositor with deposits of €22,222 or more would receive the maximum compensation of €20,000.
Multiple and Joint Accounts
All balances held in the depositor's name (including balances held in a joint account) together with any interest due will be aggregated for the purpose of calculating the funds owed to the depositor by the institution. Joint account balances will be apportioned equally between each account holder for this purpose and aggregated with any other balances held by that account holder



Is the Deposit Guarantee Schemes per customer or per account?

If you had 5 accounts with 20K in each, are they covered? No from above
 
Last edited:
johnnyg said:
Sorry got my answer:

From the Irish Deposit Scheme
Limits on Compensation
The maximum amount payable to any depositor is 90 per cent. of the aggregate deposits held by that depositor subject to a maximum compensation payment of €20,000. Thus, a depositor with a deposit account totalling €5,000 would receive compensation of €4,500 while a depositor with deposits of €22,222 or more would receive the maximum compensation of €20,000.
Multiple and Joint Accounts
All balances held in the depositor's name (including balances held in a joint account) together with any interest due will be aggregated for the purpose of calculating the funds owed to the depositor by the institution. Joint account balances will be apportioned equally between each account holder for this purpose and aggregated with any other balances held by that account holder



Is the Deposit Guarantee Schemes per customer or per account?

If you had 5 accounts with 20K in each, are they covered? No from above
Click to expand...
Is the BoI going to go down like some of the UK bank.

joody1
 
Do I take the above to mean that a joint account with a balance of 200k would be equally apportioned between both account names thus giving 100% guarantee i.e. 2 x 100k x 100% ?

regards

Westgolf
 
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