We hold a joint account. How is this covered by deposit insurance?

The basic rule is a maximum coverage € 100,000 per customer at a bank. If you hold a joint account, you are considered as two customers and therefore the limit would be 2 x € 100,000. Banks may introduce terms about to whom the money is attributed to in the case of a pay-out event (so if you held € 200,000 in a joint account with your spouse, but € 150,000 is attributable to one partner and € 50,000 to the other, the bank might be able to say that only € 150,000 in total might by eligible for pay-out). It should be remembered that banks will also take into consideration individually held savings accounts by a single customer in addition to joint accounts.

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