Deposit Guarantee Fund.

Deposits made at Banco Montepio benefit from the refund guarantee provided by the Bank to guarantee this refund. Deposits will be refunded up to a limit of €100,000 per depositor.

What is the Deposit Guarantee Fund?
The FGD (DGF) was created in 1992, by Decree-Law no. 298/92, of December 31, and its objective is to guarantee reimbursement of deposits made in banking nstitutions that participate in it, in the event of a situation of financial unavailability in any of these institutions.
What does the Deposit Guarantee Fund guarantee?

The FGD (DGF)  guarantees reimbursement of up to a maximum amount of 100,000 euros for each depositor and per institution, regardless of whether the depositor is resident in Portugal or not and whether the deposit is made in national or foreign currency. The maximum limit applies to the total value of each depositor's balances considering all deposits made at each banking institution. 


When calculating the value of each depositor's accounts, the combined value of the deposit accounts on the date on which the unavailability occurred, including interest, is considered. In the case of deposits made in foreign currency, the balance is converted into Euros, at the exchange rate on that date (reference exchange rate published by the Bank of  Portugal). 


In the case of collective accounts and in the absence of any provision to the contrary, the FGD (DGF) divides the reimbursement relating to the account equally. As an example, if a couple holds a deposit account with a balance of 50,000 euros, each is entitled to receive 25,000 euros. If the couple holds a deposit account with a balance of 200,000 euros, each is entitled to receive 100,000 euros, as the reimbursement is per depositor. 

How is the amount refunded?
The reimbursement of guaranteed amounts must take place within a maximum period of 7 working days for an installment of up to 10,000 euros, counting from the date of unavailability of deposits. For the remaining amount, up to 100,000 euros, reimbursement must take place within a maximum period of 10 working days. In exceptional circumstances, the FGD (DGF) may request the Bank of  Portugal to extend this period, for a period not exceeding 10 working days.
How do I know if my deposit is protected by the Deposit Guarantee Fund?
To find out whether the application you intend to create is eligible for the guarantee provided by the FGD (DGF), you must consult the Depositor Information Form (FID), the Standardised Information Sheet or the Information Prospectus that will be made available to you by the Bank when subscribing to the product.  

More information?

For more information and access to frequently asked questions about the FGD (DGF), please consult the website