PLEASE ALSO NOTE. Deposits by private individuals and companies are normally covered by deposit guarantee schemes. Exceptions for certain types of deposits will be announced on the website of the relevant deposit guarantee scheme. You can also request information from your bank about which products are covered and which are not. If deposits are covered by a guarantee scheme, this will be stated on the relevant account statement. Compensation will not be paid for deposits showing no related account transactions in the 24 months prior to the insolvency date and where the value of the deposits is not high enough to cover the guarantee scheme’s administrative costs of paying out. Deposits covered by the scheme are only eligible for compensation after the offsetting of any legally or contractually chargeable debts of the depositor towards the bank that were incurred prior to or on the insolvency date.
Appears in 6 contracts
Samples: Visa Business Card Framework Agreement for Employee Cards With Company Guarantee, Visa Business Card Framework Agreement for Employee Cards, Framework Agreement for Employee Cards
