Fundo de Garantia de Depósitos
Published 5 November 2026, 06:07
Fundo de Garantia de Depósitos (Deposit Guarantee Fund)
The body that pays depositors if a bank cannot return their money. The limit is €100,000, and it applies per person per bank, not per account: two accounts at the same bank are added together, and there is still only one ceiling. On a joint account the shares are treated as equal, and the limit applies to each holder. The deadlines are set by law: up to €10,000 within seven working days, and the rest, up to €100,000, within fifteen.
Where you come across it. Choosing a bank, a deposit, the question “what happens if the bank goes bust”, the formulário de informação ao depositante you receive when opening an account.
The guarantee covers deposits and current accounts, not just any money held in an app: balances in e-money accounts and investments in funds are not covered. If a bank operates in Portugal as a branch of a bank from another EU country, the fund of its home country pays: for Revolut, that is Lithuania.
Official website: fgd.pt