GIBRALTAR DEPOSIT GUARANTEE SCHEME

Temporary High Balances

THE GIBRALTAR DEPOSIT GUARANTEE SCHEME PROTECTS DEPOSITORS

Temporary High Balances

In some cases eligible deposits which are categorised as ‘temporary high balances’ are protected above €100,000 (or the currency equivalent) for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events, including:

  • (a) real estate transactions (property purchase, sale proceeds, equity release ) relating to the depositor’s current or prospective only or main residence or dwelling;

  • (b) a death, depositor’s marriage or civil partnership, divorce, retirement, dismissal, redundancy or invalidity;

  • (c) the payment to the depositor of insurance benefits or compensation for criminal injuries or wrongful conviction.

  • To prove a Depositor has held a temporary high balance evidence will be required (but not limited to) the following:

  • A court judgement.
  • A will.
  • A letter from an insurer regarding an insurance payout.
  • A letter from a lawyer, conveyancer, mortgage provider, former employer, pension trustees.
  • Court orders.
  • Social security statements.
  • Probate/letters of administration.
  • Death/marriage certificate.
  • Land registry records
  • This is just a simple notice. Everything is in order and this is a simple link.

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