The purpose of deposit protection is to grant coverage for unavailable deposits with banks, that are due according to the statutory and contractual conditions applicable to them, but whose repayment cannot be made as a result of circumstances related to the financial situation of the bank (bankruptcy) or for other statutory reasons.
Deposits are all kinds of account balances as well as call money and time deposits (accrued interests are included).
If the so-called "payout event" occurs at a Liechtenstein bank (that is in an pre-existing contractual relationship with EAS) due to an insolvency, a prohibition on disbursements or a bankruptcy as referred to Article 7 EAG, the EAS bank cell reimburses the client for duly reviewed repayment claims in the amount of his covered deposits within the statutory time limit.
Protected are account balances of private or corporate clients as well as foundations up to a maximum of CHF 100,000 per person or the equivalent of this amount in another currency. If a client has several accounts with a bank or if, in addition to his own account, he also owns a share in a joint account, the cap does not apply to each account individually but to all his accounts on a consolidated basis.