Securing your deposits

Classic bank accounts are protected by a so called “Depositor Compensation Scheme” which covers losses up to a maximum of 100.000 EUR per depositor.

Unlike for classic banks a statutory deposit insurance does not apply to e-money financial institutions.
The Maltese FINANCIAL INSTITUTIONS ACT under paragraph 10 para. (B) provides for particularly strict rules for the deposit protection of customers.

For example, e-money financial institutions are required to manage their funds separately from own/other assets, so that in the event of bankruptcy, e-money accounts and credit balances are protected from access by creditors. Therefore, client funds are managed on escrow accounts at major banks with a particularly high reputation.