Security of call money in Germany and EU
The security of overnight money in Germany and the EU is an important criterion for investors, so that they see their credit again in the case of banking crises and Co. again.
Information about the deposit insurance can be found on the websites of direct banks mostly not in the offers, but should be searched under the general information. Anyone who wants to open a call money account on the Internet should always look at the deposit comparison for the daily allowance when comparing conditions, because that is crucial for the investment amount. In our comparison table, we also face the important factor.
The statutory deposit insurance in Germany and the EU
Through the compensation scheme of German banks, the deposits are fully covered by law up to 100,000 euros per bank customer. Important for the investor is that it is a German bank. However, direct banks that make offers for German customers often do not have their headquarters in Germany. For most countries, the deposit guarantee limits are based on the regulations of the respective country. For Belgium, Bulgaria, Denmark, Estonia, Finland, France, Greece, England, Ireland, Latvia, Lithuania, Luxembourg, the Netherlands, Austria, Portugal, Sweden, Slovenia and Spain, the deposit insurance is also 100,000 euros. For overnight money accounts of other foreign banks, e.g. At American banks, looking at the level of deposit insurance is particularly important, so as not to be in for a nasty surprise afterwards.
Deposit Guarantee Fund of the Federal Association of German Banks
The security of Tagesgeld Germany and EU is also determined by Deposit Guarantee Fund. Banks that are voluntarily members of the Deposit Guarantee Fund of the Federal Association of German Banks offer their overnight customers the protection of their deposits up to 30% of the reported equity per investor. By the year 2025, however, this percentage will be reduced in several stages to 8.75% as the capital requirements of banks grow steadily. Other German security funds are the Deposit Guarantee Fund of the Federal Association of Public Banks, the Haftungsverbund of the Sparkassen-Finanzgruppe and the security scheme of the German Volksbanken and Raiffeisenbanken. Banks based in other EU countries should not miss out on voluntary deposit guarantee funds.
Summary on the security of call money
The security of overnight money in Germany and the EU is very large for the investor. With the statutory deposit guarantee, the capital is protected up to 100,000 euros per customer. In the case of larger amounts, the consumer should obtain more information, especially from foreign banks, because here the deposit guarantee limits may vary depending on whether they belong to a deposit guarantee fund or the equity capital ratios.
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