HOW COMPENSATION IS CALCULATED ?
The maximum compensation payable under the Scheme for each depositor is EUR 100,000, irrespective of the number of accounts or the currencies these are held at the Credit Institution that has failed. Compensation is calculated based on eligible deposits held on the compensation date. Joint account balances will be divided equally between each account holder, unless another arrangement is explicitly in place.
The compensation payable will include any interest on an eligible deposit which has accrued but not been credited at the compensation date.
All compensation payments are made in GBP. Therefore, where deposits are in foreign currencies, these will be converted accordingly at the applicable exchange rate on the compensation date.