The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits.
The DGS is part of the Central Bank of Ireland’s strategy to ensure that the best interests of consumers of financial services are protected. The DGS is administered by the Central Bank of Ireland and is funded by the credit institutions covered by the scheme.
- Depositors in the event of a bank, building society and or credit union authorised by the Central Bank of Ireland being unable to repay deposits
- Up to €100,000 per person per institution
- Current accounts, deposit accounts, share accounts in banks, building societies and credit unions
The Irish DGS protects deposits held at EU branches of authorised Irish institutions. Deposits held with credit institutions that are authorised in another European Economic Area Member State are covered by that country’s deposit guarantee scheme.