Temporary High Balances
The maximum amount of compensation payable by the DGS is €100,000 per person per credit institution. In addition certain deposits, known as temporary high balances may qualify for compensation in excess of €100,000. For a deposit to qualify as a temporary high balance it must stem from at least one of the following:
deposits relating to real estate transactions for private residential property i.e. deposits lodged in preparation for purchase, sale proceeds and proceeds of equity release
deposits that serve social purposes laid down in national law and are linked to particular life events of a depositor such as marriage, civil partnership, divorce, retirement, dismissal, redundancy invalidity or death
deposits that serve purposes laid down in national law and are based on the payment of insurance benefits or compensation for criminal injuries or wrongful conviction
Qualifying deposits are protected up to a limit of €1 million (although unlimited cover is provided for claims relating to personal injury) for a period of 6 months after the deposits have been credited to an account or from the moment when such deposits become legally transferable.