Deposit Guarantee Scheme Depositor information sheet
Eligible deposits in Barclays Bank Ireland PLC are protected by:
The Deposit Guarantee Scheme (“DGS”)
Limit of protection:
€100,000 per depositor per credit institution.
If you have more eligible deposits at the same credit institution:
All your eligible deposits at the same credit institution are ‘aggregated’ and the total is subject to the limit of €100,000.
If you have a joint account with other person(s):
The limit of €100,000 applies to each depositor separately.
Reimbursement period in case of institutions failure:
15 working days.
Currency of reimbursement:
Euro or, for branches of Irish credit institutions operating in another member state of the EEA, the currency of that member state.
To contact Barclays Bank Ireland PLC for enquiries relating to your account:
To contact the DGS for further information on compensation:
Barclays Bank Ireland PLC
One Molesworth Street
Deposit Guarantee Scheme
Central Bank of Ireland
New Wapping Street
North Wall Quay
Tel: +353 1 890 777 777
Entschädigungseinrichtung deutscher Banken GmbH
Tel: +49 30 59 00 11 960
Scheme responsible for the protection of your eligible deposit
Your eligible deposit is covered by a statutory DGS. If insolvency should occur, your eligible deposits would be repaid up to €100,000 by the DGS.
General limit of protection
If a covered deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by the DGS. This repayment covers at maximum €100,000 per person per credit institution. This means that all eligible deposits at the same credit institution are added up in order to determine the coverage level. If, for instance, a depositor holds a savings account with €90,000 and a current account with €20,000, he or she will only be repaid €100,000.
Limit of protection for joint accounts
In the case of joint accounts, the limit of €100,000 applies to each depositor. However, eligible deposits in an account to which two or more persons are entitled as members of a business partnership, association or grouping of a similar nature without legal personality, are aggregated and treated as if made by a single depositor for the purpose of calculating the limit of €100,000.
In some cases eligible deposits which are categorised as ‘temporary high balances’ are protected above €100,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
(a) Certain transactions relating to the purchase, sale or equity release by the depositor in relation to a private residential property
(b) Sums paid to the depositor in respect of insurance benefits, personal injuries, disability and incapacity benefits, wrongful conviction, unfair dismissal, redundancy and retirement benefits
(c) The depositor’s marriage, judicial separation, dissolution of civil partnership and divorce
(d) Sums paid to the depositor in respect of benefits payable on death; claims for compensation in respect of a person’s death or a legacy or distribution from the estate of a deceased person.
More information can be obtained at www.depositguarantee.ie
The responsible Deposit Guarantee Scheme is:
Deposit Guarantee Scheme, Central Bank of Ireland, New Wapping Street, North Wall Quay, Dublin 1. Tel: +353 1 890 777 777. Email: email@example.com. Website:www.depositguarantee.ie.
It will repay your eligible deposits (up to €100,000) within 15 working days from 1 January 2019 until 31 December 2020; within 10 working days from 1 January 2021 to 31 December 2023; and within seven working days from 1 January 2024 onwards, save where specific exceptions apply.
Where the repayable amount cannot be made available within seven working days depositors will be given access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request. Access to the appropriate amount will only be made on the basis of data provided by the credit institution. If you have not been repaid within these deadlines, you should contact the DGS.
Other important information
In general, all retail depositors and businesses are covered by the DGS. Exceptions for certain deposits are stated on the website of the responsible DGS. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are eligible, the credit institution shall also confirm this on the statement of account.
Deposit Guarantee Scheme Exclusions List
A deposit is excluded from protection if:
(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, building society or credit union.
(2) The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.
(3) It is a deposit made by a depositor which is one of the following:
- credit institution
- financial institution
- investment firm
- insurance undertaking
- reinsurance undertaking
- collective investment undertaking
- Pension or retirement fund (other than a small self-administered pension scheme)
- public authority, other than a small local authority.
For further information about exclusions, refer to the DGS website at www.depositguarantee.ie.
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