Deposits in the banks operating in Estonia
Deposits in the banks operating in Estonia on the basis of an authorisation, including money on settlement accounts, are secured by the Estonian deposit guarantee scheme, the operation principles of which arise from the Deposit Guarantee Act.
Banks operating in Estonia on the basis of an authorisation are Swedbank, SEB Pank, Eesti Krediidipank, BIGBANK, LHV Pank, Marfin Pank and Tallinna Äripank.
Deposits, together with the interest thereon as at the date on which the deposits become unavailable, are guaranteed to the extent of 100 per cent but not more than in the amount of EUR 100 000 per depositor and per company in any one credit institution.
The Deposit Guarantee Act also provides for the procedure for payment of compensation. If the Guarantee Fund has insufficient assets to perform obligations and pay compensations, it is possible take loans from credit institutions or other persons. If this also proves insufficient to perform obligations, the supervisory board of the Guarantee Fund may apply for a state loan or a state guarantee for a loan taken by the Fund.
Deposits in the branches of banks operating in Estonia are generally secured by the deposit guarantee scheme of the home country of the bank and at least to the same extent as in the case of banks operating in Estonia on the basis of an authorisation. More well-known branches are Sampo/Danske Bank, DnB NORD and Nordea branches. The complete list of branches may be found on the website of the Financial Supervision Authority.