The Deposit Guarantee Scheme
The Netherlands has a scheme whereby the interests of account holders at banks that are under the supervision of De Nederlandsche Bank (the Dutch Central Bank) are safeguarded. This system is known as “depositogarantiestelsel (DGS)” – the “Deposit Guarantee Scheme”.

A bank is a business that operates with the money that account holders have entrusted to it. In order to protect the interests of the account holders, banks established in the Netherlands are subject to the supervision of De Nederlandsche Bank (the Dutch Central Bank).

Dutch banks are traditionally amongst the most stable in the world. Nevertheless, a scheme has been in force in The Netherlands to guarantee the interests of the account holders: the ‘Depositogarantiestelsel’ (the Deposit Guarantee Scheme, known as the DGS).

What banks fall into the scope of the DGS?
Dutch banks operating under a licence from DNB fall into the scope of the Dutch DGS. To see whether your bank is in this category, look it up in the Registry of Banks. Your bank is covered by the Dutch DGS if the left column contains one of the following texts: 'Uitoefenen van het bedrijf van bank met beleggingsdiensten (2:13 lid 1)' (i.e. ‘Licenced to operate as a bank also offering investment services’) or 'Uitoefenen van het bedrijf van bank of electronische geldinstelling (2:12 lid 1)' (i.e. ‘Licenced to operate as a bank or an electronic money institution’) or ‘Kredietinstelling aangesloten bij centrale kredietinstelling (3:111)’ (i.e. Credit institution affiliated with a central credit institution). Electronic money institutions are not covered by the DGS.

Banks incorporated in the European Union, Norway, Iceland or Liechtenstein, and operating a branch in the Netherlands fall into the scope of the DGS of their country of origin. To see whether your bank is in this category, look it up in the Registry of Banks. Your bank is covered by the DGS if the left column says ‘Branch of bank from the EEA (2:14)'. Your bank will be able to tell your more about the (cover of) the DGS from the country of origin. The DGS from the country of origin is responsible for the determination and payment of compensations under that foreign DGS. 
If the DGS in the country of origin provides for more limited cover than the Dutch DGS, the branch concerned may apply for supplemental participation in the Dutch DGS.
To find out if a branch is a supplemental participant in the Dutch DGS, look it up in the Registry of Banks. If it is, it will be indicated so in the explanatory notes.
For banks that are not incorporated in the European Union, Norway, Iceland or Liechtenstein, but operate a branch in the Netherlands different rules apply.

What products are covered by the DGS?
Money held on current accounts, savings accounts or special savings accounts such as fixed-term deposits, are covered by the DGS. Shares or bearer bonds held there are not covered. Whether subordinated deposits fall under the DGS will have to be assessed on a case-by-case basis. Your bank can give further information on specific products.

Who may claim compensation under the DGS?
Private people and small enterprises (specifically: enterprises allowed to publish a summary balance sheet) are eligible for compensation under the DGS.
A small group of private people are excluded from compensation under the DGS: directors of the bank in difficulties, persons holding a 5% or larger stake in that bank and close relations of such persons. Certain categories of organisations are also excluded, such as financial undertakings and government bodies.

What amount is guaranteed by the deposit guarantee scheme?
The deposit guarantee scheme guarantees an amount of Euro 100.000,00 per person per bank (regardless of the number of accounts). In case of a so-called and/or account of two persons, it is per person.

Who pays for the DGS?
DNB will determine and pay compensations under the Dutch DGS and subsequently apportion the total sum paid among the participating banks according to size.
By way of illustration and to avoid any misunderstanding:
Accountholders that (also) qualify for compensation under a foreign DGS cannot appeal to DNB for the determination and payment of compensations under that foreign DGS. Neither will compensations under that foreign DGS be advanced by DNB. (also see the questions about branches and the possibility of supplemental participation in the Dutch DGS.)

Within which term is compensation due?
The Dutch DGS must, in principle, pay compensation within three months of the date on which the application was received. As this term is a European rule, it also applies to DGSs in other EU countries, Norway, Iceland and Liechtenstein. In special cases, this term may be extended.

What is the procedure for supplemental participation in the Dutch deposit guarantee scheme?
Banks incorporated in the European Union, Norway, Iceland or Liechtenstein and operating a branch in the Netherlands fall within the scope of the DGS of their country of origin. If the DGS in the country of origin provides for more limited cover than the Dutch DGS, the branch concerned may apply for supplemental participation in the Dutch DGS. This implies that if the bank in question runs into payment difficulties, you may be eligible for two compensations, depending on your balance. In the first place, you will receive compensation under the DGS from the country of origin of the bank concerned.
In addition, you may receive supplemental compensation under the Dutch DGS. Such compensation is calculated as follows: [compensation to which you would have been entitled if the bank had been incorporated in the Netherlands] – [compensation to which you would have been entitled under the DGS in the country of origin] = [supplemental compensation under the Dutch DGS]. Whether or not you qualify for compensation under any of the said schemes also depends on the conditions governing eligibility for compensation under either of those schemes (for the Dutch DGS, see under What products are covered by the DGS? and Who may claim compensation under the DGS?)

Which supervisory authority is responsible for a branch of a bank from the European Union, Norway, Iceland or Liechtenstein come?
Banks incorporated in the European Union, Norway, Iceland or Liechtenstein are licensed to pursue their business in other EU countries and Norway, Iceland or Liechtenstein. Such banks hold a so-termed Single European Licence. They may, for example, open a branch in one of those countries. Such banks and, hence, also their branches, are subject to supervision in the country of origin. The relevant authority of the country where a branch is established will only exercise supervision on the liquidity of that branch. In the case of a Dutch-based branch of a bank from Iceland or Belgium, for example, this means that the Icelandic or Belgian supervisor is the principal supervisor and De Nederlandsche Bank only exercises supervision on the liquidity of that branch.

Under what schemes may I claim compensation in the event of a branch from the European Union, Norway, Iceland or Liechtenstein?
Banks incorporated in the European Union, Norway, Iceland or Liechtenstein and operating a branch in the Netherlands fall within the scope of the DGS of their country of origin. To see whether your bank is in this category, look it up in the Registry of Banks. Your bank is covered by the DGS if the left column says ‘Branch of bank from the EEA (2:14)'. Your bank will be able to tell your more about the (cover of) the deposit guarantee scheme from the country of origin. The deposit guarantee scheme from the country of origin is responsible for the determination and payment of compensations under that foreign deposit guarantee scheme.