Protected Deposits

A deposit means a credit balance on an account with a bank, building society or credit union that must be fully repaid.

The following is a list of deposit types that may be considered eligible for Deposit Guarantee Scheme (DGS) compensation:

  • Current accounts
  • Saving accounts
  • Demand deposit accounts
  • Notice deposit accounts
  • Fixed-term deposit accounts
  • Share accounts in a building society or credit union
  • Deposit element of structured deposits/tracker bonds may also be eligible if the deposit element is repayable at par