• Wat level of protection does each bank account have?

As bunq is a licensed bank in the Netherlands, the money is protected by garantiedeposito. However, it is not entirely clear to me on what accounts this applies. Does it apply to:

  • Non Dutch (such as Spanish) IBANs.
  • Bunq easy investments
  • non Euro accounts (dollar/pound etc)

For the last option, I already know the answer (no) but then I would like to know what kind of (similar) protection I have in case Bunq would be in trouble. For example, dollar/pound accounts have a British IBAN. What kind of similar protection (similar to garantiedeposito) do I have? Logically, if garantiedeposito does not apply, some other kind of protection needs to exist to make me feel comfortable putting money on such an account.

    @New-Magenta-Dragon-3102091244#280697 Hey there Daniel 👋 Please note that in principle, every Euro in your bunq account is covered by the Deposit Guarantee Scheme (DGS), including Euro-based Local IBANs. This means that your credit is guaranteed up to EUR 100,000 per account holder, however, e-money accounts and (non-Euro) Local Currency account(s) are excluded from the Deposit Guarantee Scheme. Check this page 👉 https://www.bunq.com/blog/understanding-deposit-guarantee-in-european-banking 🌈 Do note that funds deposited on your Easy Investments account are with Birdee (our investment partner), thus not secured by the Deposit Guarantee Scheme.

      @alice-lime-puma#280702 Are Birdee investments and local currency accounts also not covered by a system in the UK?

        @thijsoost#280703 When using Easy Investments, you’ll enter into a legal agreement with Birdee and you will transfer your money to them to invest for you. Birdee is an investment firm that is regulated by the Luxembourg Financial Sector Supervisory Authority - CSSF.
        For local currencies, all the non-Euro funds are held in UK bank accounts from CurrencyCloud. Of course, these funds are safe and highly regulated, but because it's outside the EU, it isn't covered by the Deposit Guarantee Scheme 👉 https://together.bunq.com/d/45414

          @alice-lime-puma#280733 I know that! But the UK also has a deposit guarantee scheme of its own, hence my question. But it looks like local currency accounts aren't covered by that scheme?

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