Deposit and Savings Protection


If you have a current, deposit or saving account in a Maltese bank denominated in euro – or in another currency of EEA countries whose currency is not the euro – in the unlikely event of a bank failure you are covered up to a limit of €100,000 by the Depositor Compensation Scheme.

If you have a joint account, and if there is no indication of the share of each account holder in that account, the amount in the account will be divided equally between the account holders.

You can only submit one claim for all your deposits taken in aggregate against a failed licensed bank, including your share in a joint account or a client account. The amount you shall receive shall be reduced by any amounts due to the bank (such as loans).

The pay-out period is 20 working days, reckoned from the date when the competent authorities determined that a credit institution is unable to repay its deposit liabilities – with a possible extension of 10 working days in exceptional circumstances.

For More information about the Scheme, click here.