In some cases eligible deposits which are categorised as ‘temporary high balances’ are protected above €100,000 to the maximum limit of £1million (or the currency equivalents) for 6 months after the amount has been credited or from the moment when such eligible deposits become legally transferable.

The Gibraltar Deposit Guarantee Scheme cannot confirm the eligibility of a particular temporary high balance unless/until the bank has failed. This is because we’d need to review all of the available evidence to check that there was a sufficient connection between the relevant life event and the sums in the depositor’s account.

Eligible deposits connected with certain events to have caused a temporary high balance in your bank account might include:

• Real estate transactions.
• Benefits payable under an insurance policy.
• Personal injury compensation.
• Disability or incapacity (state benefits).
• Claim for compensation for wrongful conviction.
• Claim for compensation for unfair dismissal.
• Redundancy (voluntary or compulsory).
• Marriage or civil partnership.
• Divorce or dissolution of their civil partnership.
• Benefits payable on retirement.
• Benefits payable on death.
• A claim for compensation in respect of a person's death.
• Inheritance.
• Proceeds of a deceased's estate held by their personal representative.

To prove a Depositor has held a temporary high balance evidence will be required (but not limited to) the following:

• A property sale receipt or agreement.
• A court judgement.
• A will.
• A letter from an insurer regarding an insurance payout.
• A letter from a lawyer, conveyancer, mortgage provider, former employer, pension trustees.
• Court orders.
• Social security statements.
• Probate/letters of administration.
• Death/marriage certificate.
• Land registry records.”