Payment of compensation

Compensation to customers in foreign banks or institutions operating through branches

If you have money in an account in the branch of a Swedish institution in another EU/EES country, the compensation amount in the branch country applies and is paid out in that country’s local currency. Payment of reimbursement to depositors in the branch will be administered by the deposit insurance scheme of the host country. The host country’s deposit insurance system will decide on the method of payment.

If you have money in a foreign branch in Sweden, the institution’s home country is responsible for paying the deposit insurance. In this case, you will be reimbursed in accordance with the applicable deposit insurance rules in that country. Payment of reimbursement to the depositors in the Swedish branch will usually be administered by Riksgälden.

Compensation to customers in institutions operating through passporting

If you have deposits in a Swedish institution offering accounts through passporting services to another EU/EES country without establishing a branch presence, the compensation amount is SEK 1 050 000. Payment of reimbursement will be administered by Riksgälden.

If a disbursement account is provided the compensation is paid out by a transfer to your disbursement account. If no account has been provided, you can receive a cheque instead.

Payment to disbursement accounts will be in the currency of the disbursement account provided. Cheque payments will be issued in Swedish kronor. Disbursement accounts are bank accounts in another bank registered with the Swedish deposit taking institution for repayment of deposits.

For depositors using the Raisin platform, the disbursement account is the account with Raisin bank or, where applicable, the service bank appointed by Raisin.

If you have money in an account in a foreign institution offering accounts through passporting services to Sweden from another EU/EES country, without establishing a branch presence, the compensation will be paid by the deposit insurance system of the country where the passporting institution is authorized.

Additional amount

If you have more than SEK 1,050,000 deposited at the same bank or institution, you may be entitled to an additional amount up to a maximum of SEK 5 million for deposits from transactions serving certain social purposes.

This may, for example, apply to transactions in your account relating to:

• sale of a private residential property
• divorce
• retirement
• dismissal
• redundancy
• invalidity
• death
• insurance benefits
• compensation for criminal injuries or wrongful conviction

You may apply to the Debt Office for an additional amount only after the deposit insurance scheme has been activated. In the application, you must show that the deposit is for an event that entitles you to an additional amount and that the transaction was made within the last 12 months.

Payment for dormant accounts

Compensation will not be paid out for some accounts that have a balance of less than SEK 25. Under the Deposit Insurance Act, compensation shall not be paid out if the cost of making the payment is higher than the account balance and there have been no transactions in the account in the 24 months prior to the deposit insurance scheme taking effect (dormant accounts).