Deposits insured in Europe?

M

morav

Guest
Hello, I am an American citizen (sorry for everything that's going on) and I am interested in investing in Euro prior to the collapse of the American economy. In the US we have depositor's insurance which guarantees bank deposits up to $100K in order to allow our banks to make idiotic loans to idiotic people without panicking depositors. I am wondering if there is a similar guarantee on deposits made in European banks?

Thank you.
 
In the UK and Ireland, you only get a percentage of your money back or a maximum amount, whichever is lower, e.g in Ireland, the max you can get back is something like 20k or 90% of your deposit (the lower one).

The rules vary from country to country.

The rules that the banks operate under vary from bank to bank in country to country, e.g. Northern Rock in Ireland operate under the Bank of England rules; Rabobank in Ireland operate under Dutch central bank rules etc.

So really you have to shop around and look for the best scheme.

According to this Rabobank was the third safest bank in the world in 2006. They must have thick walls or something.
 
See here for details of the Irish (IFSRA/Central Bank) depositor and investor protection schemes.
 
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