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Are deposits above EUR 100,000 ever covered in Denmark?

Special cover above the normal limit.

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Short answer

Yes, in some cases. Money from buying or selling a home that is mainly for private use is covered up to EUR 10 million for up to 12 months from the deposit date. Pension savings held as cash in an account are covered in full, without a ceiling. Some special deposits with a social purpose and certain insurance or compensation payments are covered up to EUR 150,000 per depositor for six months from the deposit date.

Practical info

Why

  1. A home sale often puts a large sum in the bank for a short time.
  2. The higher cover lasts only for a limited period.
  3. After that, the normal EUR 100,000 limit applies.

Details

Pension money held in securities is covered up to EUR 20,000 if the bank cannot return the securities.

Tip

Keep the papers from the home sale, so you can show where a large deposit came from.

What may differ

The cover for a home sale only applies to property that is not used mainly for business.

Common misconception

Many think nothing above EUR 100,000 is ever protected.

What actually happens

Home sale money, pension accounts and some compensation have higher cover for a time.

People also ask

  • Is my money protected if a Danish bank fails?
  • Is a joint account covered twice?
  • How long does payout from Garantiformuen take?

Sources

This answer is for reference only. Payment rules, limits and fees change, so check the official sources or your bank before you pay.

Practical info
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