EXAMPLES
Which deposits are covered by the Scheme?
Financing
The Scheme is financed by the licensed Credit Institutions and therefore a depositor does not need to contribute to the Scheme. We also do not charge depositors for obtaining any compensation.
Cover
Deposits are covered per depositor per Credit Institution i.e. all accounts per depositor are aggregated per Credit Institution. Deposits by the same depositor in different Credit Institutions all benefit from separate protection. You do not have to be resident in Gibraltar to be eligible for compensation.
Information
The information which is provided on this website is complementary to any information which the Credit Institution is required to provide you at the time when you open an account as well as, at a minimum, on an annual basis.
The following Deposits and Groups are COVERED by the Scheme
- Individuals
- Sole Traders
- Partnerships
- Clubs, associations, schools and charities
- Companies
- Funds held in trust or in client accounts by professionals may be covered
- Deposits held in all currencies
- Small Self-Administered Pensions
The following Deposits and Groups are NOT COVERED by the Scheme
- Deposits made by other Credit Institutions made on its own behalf or for its own account
- Own funds of the Credit Institution
- A deposit arising out of a transaction in connection with which there has been a criminal conviction for money laundering as defined in Article 1(2) of the Money Laundering Directive
- A deposit by a financial institution
- A deposit made by an Investment Firm
- A deposit, when it becomes unavailable, the holder of which has never been identified in accordance with Article 9(1) of the Money Laundering Directive
- Deposits by Insurance undertakings and reinsurance undertakings
- A deposit by a Collective Investment undertaking
- A deposit by a pension or retirement fund (Other than a deposit by a personal pension scheme or occupational pension scheme of a micro, small or medium-sized enterprise)
- A deposit by a public authority
- A debt security issued by a credit institution and any liabilities arising out of own acceptances and promissory notes