Dutch Deposit Guarantee

The Dutch Deposit Guarantee automatically protects money in accounts that retail customers and business customers hold with Rabobank and Rabo Groen Bank. It covers, among other things:

If your account - or your business account - is protected under the Dutch Deposit Guarantee, this is stated on your annual financial statement and also periodically on your account statements.

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The guarantee does not cover the following, among other things:

The Dutch Deposit Guarantee Scheme protects all retail customers. If you are a business customer, you are also protected, regardless of whether you are a large company, a small company, a self-employed person, a private pension company, or a private company incorporated to make regular payments.

The following customers (which are primarily business customers) are not protected by the Dutch Deposit Guarantee:

Balances at Coöperatieve Rabobank U.A. (Rabobank) are covered by the Dutch Deposit Guarantee. Rabobank uses trade names such as Rabobank, RaboDirect, Rabobank.be and Rabobank International. Local Rabobank branches also have their own trade names. All balances that come under these trade names are protected by the Dutch Deposit Guarantee.

Rabo Groen Bank B.V. has its own banking license and is covered separately by the Dutch Deposit Guarantee. This means that deposits at Rabo Groen Bank B.V. have separate protection from deposits at Rabobank.

The protection offered by the Dutch Deposit Guarantee is automatic. You do not need to apply for compensation. The website of De Nederlandsche Bank explains how the Dutch Deposit Guarantee works, what happens if a bank faces bankruptcy, and what steps you need to take to get your money back.

The Dutch Deposit Guarantee automatically protects your money in bank accounts, from 1 euro cent up to €100,000. De Nederlandsche Bank calculates how much money you will receive. The maximum amount of compensation is €100,000 per person per bank. This means that:

In some situations, you may temporarily have an extra high balance. For example, if you have sold your home or after payment of a pension, disability benefit, redundancy payment or life insurance. In such situations, an additional protection of up to €500,000 applies to the standard protection of €100,000 per person per bank. This additional protection applies until 6 months after payment of the money into your account. This temporary higher protection applies to private individuals only, and therefore not to enterprises.

For more information about the temporary higher protection, please visit the website of De Nederlandsche Bank.

Under the Dutch Deposit Guarantee, businesses are protected up to a maximum of €100,000. This applies to incorporated businesses (such as a public limited company, private limited company, foundation or association) as well as unincorporated businesses (such as a limited partnership, general partnership or professional partnership). This protection is separate from the protection covering the private credit balances of owners, members, directors and partners. Sole proprietors (including self-employed persons and freelancers) form an exception. In the case of sole proprietorships, all of the owner’s credit balances (both business and personal) are added together, and they are protected up to a maximum of €100,000. Examples:

Klaas and Karin are the partners in a professional partnership
Klaas and Karin do not have any private accounts with Rabobank. The balance in the partnership’s business account is €95,000. Because the partnership enjoys independent cover under the Dutch Deposit Guarantee (up to a maximum of €100,000), the entire balance of €95,000 is protected.

Sander and Anouk are the partners in a professional partnership
The balance in the partnership’s business account is €120,000. Sander and Anouk also have a private joint (‘and/or’) account with a balance of €30,000. The balance in the joint account is divided equally between Sander and Anouk, which means each of them has a private credit balance of €15,000. This is fully covered by the Dutch Deposit Guarantee. Because the partnership’s credit balance exceeds the maximum amount covered (€100,000), only €100,000 of the partnership’s credit balance of €120,000 is protected. The remaining €20,000 is not covered by the Dutch Deposit Guarantee.

Emiel and Petra are the partners in a general partnership
The partnership has a Rabobank account with a balance of €200,000. Emiel and Petra do not bank privately with Rabobank. Because the partnership’s credit balance exceeds the maximum amount covered (€100,000), only €100,000 of the partnership’s credit balance of €200,000 is protected. The remaining €100,000 is not covered by the Dutch Deposit Guarantee.

Bart and Anne are the partners in a general partnership
The partnership has a Rabobank account with a balance of €200,000. In addition, Bart and Anne each have a private account with Rabobank with a credit balance of €50,000. Bart’s €50,000 private balance and Anne’s €50,000 private balance are both fully covered under the Dutch Deposit Guarantee. Because the partnership’s balance exceeds the maximum amount covered (€100,000), only €100,000 of the partnership’s credit balance of €200,000 is protected. The remaining €100,000 is not covered by the Dutch Deposit Guarantee.

Martin has a sole proprietorship and has a business account as well as a private account with Rabobank
He has a private savings account with a balance of €50,000. The credit balance in the sole proprietorship’s account is €40,000. Martin’s private credit balances and those of the sole proprietorship are added together. Martin’s total credit balance is €90,000 (€40,000 plus €50,000). The total credit balance is fully protected by the Dutch Deposit Guarantee under the cover provided to Martin as a private individual.

Iris has a transport company in the form of a private limited company
Iris has a business account as well as a private account with Rabobank. Iris has a private savings account with a balance of €50,000. The credit balance of her company is €90,000. As a private individual, Iris’s credit balances are protected up to a maximum of €100,000 under the Dutch Deposit Guarantee. Her private balance of €50,000 is therefore fully protected by the Dutch Deposit Guarantee. Her company’s credit balance is also protected up to a maximum of €100,000 under the Dutch Deposit Guarantee. This means the company’s balance of €90,000 is fully protected by the Dutch Deposit Guarantee.

If you have a savings account that you will use to repay your mortgage at a later date, such as a Rabo OpbouwSpaarrekening (Rabo Accrual Savings Account) linked to a Rabobank OpbouwHypotheek (Rabobank Accrual Savings Mortgage), your savings will first be used to reduce your mortgage debt. In that case, you will not receive compensation from the Dutch Deposit Guarantee.

If you no longer have any mortgage debt, your savings in the bank savings account will be reimbursed by the Dutch Deposit Guarantee, up to a maximum of €100,000. In the unlikely situation that your savings balance exceeds your mortgage debt, the excess amount qualifies for compensation.

No, investments are not covered by the Dutch Deposit Guarantee. They are covered by the Investor Compensation Scheme, which protects retail customers and small business customers if their bank faces bankruptcy and has failed to comply with the asset segregation rules.

If you have more money in your account than the €100,000 protected by the Dutch Deposit Guarantee, you will not automatically lose the excess amount if Rabobank faces bankruptcy. The trustee in bankruptcy will then include your claim as a creditor’s claim. You will usually be a preferred creditor, which means you are at the top of the list.

Some examples that clarify the Dutch Deposit Guarantee are provided below.

Example of calculation for a family with two minor children
A family consists of parents Carla and Johan, daughter Anna (14) and son Marcel (12). Each of them has their own account with Rabobank. Carla has €2,000 in her payment account, and Johan has €1,000 in his. They also have a joint ‘and/or’ savings account containing €20,000. Anna has €5,000 in her savings account, and Marcel has €3,000 in his.

What is protected under the Dutch Deposit Guarantee?
Each member of the family - in other words, each parent and child - enjoys individual protection under the Dutch Deposit Guarantee. Amounts in accounts held by minor children are not counted when calculating the balances of their parents’ accounts.

What amount is protected for each member of the family?
The balance in Carla and Johan’s joint ‘and/or’ account is divided between both parents (usually a 50/50 split). This means that Carla has €12,000 (€2,000 in her own account and €10,000 in the joint account) and Johan has €11,000 (€1,000 in his own account and €10,000 in the joint account). Anna has €5,000 and Marcel €3,000. No one in the family has a total balance exceeding the maximum amount of compensation (€100,000), and so all of their money is protected.

Example of calculation for a wealthy couple
Marie and Victor have their own savings accounts as well as a joint ‘and/or’ account containing €120,000. Marie has €60,000 in her savings account, and Victor has €50,000 in his. The balance in the joint account is divided between both partners (usually a 50/50 split). Marie has a total of €120,000 (€60,000 plus €60,000) and Victor has €110,000 (€50,000 plus €60,000). Both partners enjoy protection up to €100,000. The remaining amounts (€20,000 for Marie, and €10,000 for Victor) are not protected.

Example of calculation for a retail customer with a sole proprietorship
Ellen and her partner Erik have a joint account ‘and/or’ containing €60,000. Ellen has a hair salon, which she runs as a sole proprietorship. It has a business account containing €50,000. The balance in the joint account is divided between both partners (usually a 50/50 split). The balance in Ellen’s business account is added to the balance of her retail account. Erik’s total comes to €30,000 (half of the joint ‘and/or’ account) and Ellen’s to €80,000 (half of the joint ‘and/or’ account plus the balance of the sole proprietorship’s business account). Erik and Ellen are both fully protected.

Example of calculation for Rabo Groen Bank BV
Maartje and Vincent each have their own savings account with Rabobank. Maartje has €60,000, and Vincent €50,000. They also have a joint ‘and/or’ account (Green Savings) with Rabo Groen Bank. This account contains €90,000. Rabobank and Rabo Groen Bank each have their own banking license. The amount of protection is €100,000 per person per bank. Maartje’s balance with Rabobank (€60,000) and Vincent’s balance with Rabobank (€50,000) are fully protected. The balance in the joint ‘and/or’ account at Rabo Groen Bank is also fully covered up to €200,000 (each partner enjoys protection of up to €100,000 per person).

For more frequently asked questions, visit the website of De Nederlandsche Bank.