Safeguard for your money.
Deposit protection new

As a result of the new law concerning deposit protection, ESAEG (Einlagensicherungs- und Anlegerentschädigungsgesetz), deposits continue to be protected up to EUR 100,000 per customer and bank. In some cases, even up to EUR 500,000.

We have summarised the key aspects for you:

  • As in the past, deposits are protected up to EUR 100,000 per customer and bank. This amount also applies to joint accounts per customer.
  • New: In special cases (e.g. disbursement of severance or private real estate purchases), deposit protection is increased to up to EUR 500,000, limited to a period of 12 months.
  • New: Also protected are deposits in all foreign currencies.
  • As in the past, the deposits of basically all customers are protected.
  • New: For commercial customers, the deposits of large corporations and limited liability companies (section 221, paragraph 3, of the Austrian Business Enterprise Code (UGB)) will in future be protected as well.

As in the past, deposit protection applies to

  • Savings accounts and passbooks
  • Payment transaction accounts
  • Securities settlement accounts
  • Home-loan savings accounts

As in the past, not protected are

  • Custodial accounts for securities (see “Are my securities protected in the event of default?  Statutory investor indemnification”)
  • Deposits by institutional customers, such  as banks, insurance companies, investment companies, pension funds
  • Deposits by the Federal Government, states, and municipalities

Deposit protection safeguards you if your savings are no longer disbursed by the bank because 

  • bankruptcy proceedings were initiated
  • court-supervised management was ordered,
  • an order to cease payments was imposed, or
  • the financial market authority (FMA) has stated that the bank is currently unable to repay deposits when due and that there is currently no prospect that it will be able to do so in the future.


  • The compensation payment is normally made without having to request disbursement.
  • In addition to other financial instruments, funds will be available in future for the disbursement.
  • The banks will gradually pay into these funds until 2024.
  • The previous arrangement of shared liability for deposit protection (the Republic of Austria and the relevant bank, in equal shares) no longer applies. However, due to the various financial instruments, the system is strengthened overall.
  • The deadline for disbursement will be gradually reduced from 20 working days to 7 working days by 2024.

Yes, the joint liability scheme will remain in place unchanged in addition to deposit protection. In connection with reciprocal liability agreements, Erste Bank and Sparkasse guarantee the disbursement of customer deposits beyond the amounts protected by law.

Our customers thus enjoy additional protection exceeding the statutory deposit protection of EUR 100,000.

Moreover, the basic agreement concerning the joint liability scheme, to which the Austrian savings banks are parties, contains an early-warning system in order to be able to respond rapidly when a savings bank is experiencing economic difficulties.

In general, securities in a customer custodial account are merely held in safekeeping by the bank. They are your property and must at any time be paid out to you or transferred to another custodial account – including in the event of default.

If, contrary to expectations, that is not possible, then investor compensation comes into play. In this regard, the relevant securities are protected up to a maximum of EUR 20,000. As a legal person, you’ll receive 90% of the claims – but likewise up to at most EUR 20,000. 

Balances in your accounts are covered by deposit protection, e.g. balances from distributions to securities settlement accounts.

The right advice

Do you have any questions? Your Erste Bank customer advisor will be happy to provide you with more details about deposit protection.

You can find supplemental information on deposit protection and investor compensation in the “Information sheet for depositors”, as well as online at / There, you can also find the complete text of the ESAEG. 


Information status: December 2015

This information is based on the state of knowledge of the persons charged with creating it that existed on the editorial deadline.