Compensation and guarantee schemes

Compensation schemes protect your money if a regulated firm covered by one of the schemes goes out of business. You can get more information, including key dates for different schemes, at the links below.

When you place your money in State Savings products your money is with the Irish Government. There is no upper limit on the amount protected and no expiry or end date dor this protection see details on www.statesavings.ie

When can you make a claim?

You can make a claim if your bank, building society or credit union has been declared insolvent or a liquidator declares that it cannot repay its deposits. Any loans you have with your institution may be deducted from the balance of your deposit if you were to make a claim under the Deposit Guarantee Scheme.

Some banks that operate in Ireland are regulated in their home country and operate here under EU rules. If you have an account with a bank that operates in Ireland but is regulated in its 'home country', you would usually make a claim under a compensation scheme in place in the country where the institution is regulated. Some of the deposit schemes relevant to Irish consumers are:

UK scheme for Investec Bank plc, Leeds Building Society and Nationwide Building Society
Dutch scheme for Rabodirect.
Danish scheme for Danske Bank (trading as National Irish Bank)