Client at a Swedish bank abroad

Deposit guarantee systems within the EU are based on an EU directive which harmonizes the key elements of deposit guarantee systems in the member states.

This means, for example, that the maximum compensation level is set to 100 000 euros or the equivalent in the national currency. As a rule, deposits are protected by the guarantee system of the country where the institution has its banking license.

Client at a subsidiary of a Swedish bank abroad

A subsidiary bank is a separate legal entity from the parent company and has its own banking license. Consequently, deposits at a subsidiary of a Swedish bank abroad are guaranteed by the deposit guarantee scheme of the country where it operates.

Client at a branch of a Swedish bank abroad

A branch is different from a subsidiary in that it is not a separate legal entity from the parent company. Consequently, deposits at a branch of a Swedish bank abroad are protected by the Swedish deposit guarantee scheme.

However, the compensation limit is the same as applicable in the country where the branch operates, for example 85 000 pounds in the United Kingdom and 100 000 euros in Finland. For Swedish branches in Norway the compensation limit is also 100 000 euros.

If the deposit guarantee is more generous in the country where the branch operates compared to the Swedish deposit guarantee, the branch may join the host country's guarantee system. The host country will then guarantee the difference between the Swedish deposit guarantee and the host country.

If the national law of the host country’s guarantee system does not allow for the branch to join, the branch may apply to extend the coverage from the Swedish deposit insurance regarding temporary high balances.

The following branches have a applied for and been granted an extended coverage from the Swedish deposit insurance regarding temporary high balances:

  • Nordea Bank AB, Finland Branch
  • Svenska Handelsbanken AB, Finland Branch
  • Svenska Handelsbanken AB, UK Branch

International organisations

European Forum of Deposit Insurers, EFDI, is an organisation for European deposit guarantee organisations. The members are listed on EFDI's website.

The equivalent international member organisation is the International Association of Deposit Insurers, IADI. The members are listed on IADI's website.