When calculating the cap (maximum repayment amount) for fiduciary/escrow accounts, EAS relies on the person of the trustor. A fiduciary account is hold in the name of a trustee who controls the funds in the account on behalf of another person. The beneficial owner of the credit balance managed in the fiduciary account is therefore the trustor, who is also secured for this credit balance (deposit) within the cap. The covered amount is repaid directly to the trustor after legitimation and proof of the claim. The same applies to escrow accounts, i.e. fiduciary accounts that can only be opened by certain professional groups (e.g. lawyers).
This also applies to a trustor whose identity is not known to the member institution due to the application of simplified due diligence obligations pursuant to Article 10 of the Due Diligence Act (SPG) or other legal provisions which waive the immediate disclosure of the trustor's identity to the bank, if such a trustor can prove a claim against the protection scheme.
The bank must ensure that the trust relationship for determining the covered deposits is fully documented and adequately marked from a technical point of view in the IT systems. Trustees' operational assets must be separated from trust relationships.