Joint accounts: if an account is held in more than one name, each account holder is separately eligible for reimbursement under the deposit guarantee scheme. In case of two account holders, the deposit guarantee scheme assumes that each account holder is entitled to half of the balance. If the balance on the joint account is € 200,000, each account holder is in principle eligible for reimbursement of € 100,000. Please remember that if an account holder has one or more other accounts, the maximum of € 100,000 applies to all the deposits jointly.
Example 1:
You have two accounts at ABN AMRO with balances of € 50,000 and € 70,000 respectively. This adds up to a total balance of € 120,000. You will therefore be reimbursed for a maximum of € 100,000 under the scheme.
Example 2:
You and your husband have a joint account at ABN AMRO with a balance of € 150,000. You also have another ABN AMRO account, in your own name, with a balance of € 60,000. Your husband does not have any other accounts at ABN AMRO. He will be reimbursed for half of € 150,000; i.e. € 75,000. Your total balance is € 135,000 (€ 75,000 + € 60,000). That means you will be reimbursed for a maximum of € 100,000 under the Deposit Guarantee scheme.
Third party Clients account, i.e. an account held by an account holder for you and possibly other people: in certain circumstances the balance on this account may be eligible (or partly eligible) for reimbursement under the deposit guarantee scheme. An escrow account held by a notary for property purchases and sales is an example of a third party clients’ account. The amount eligible for reimbursement is included in calculating your overall entitlement (i.e. up to € 100,000 for the total credit balances per account holder per bank).