Across the EU, eligible deposits are usually protected by a national guarantee scheme up to €100,000 per depositor, per bank. That headline is useful — but only if you know which scheme covers your account.
Before you transfer a larger sum, such as €40,000, save the document that names the bank and the protection scheme.
Online banks and other countries
It is now common to hold savings with a bank licensed in another EU or EEA country. Protection usually follows that bank’s home scheme. A website in your language does not change that.
Two brands in the same group may or may not count as one bank for the €100,000 limit. Ask if you are unsure.
After protection is clear
Compare the rate, the term, and how easy it is to get money out. A protected product you understand is better than a higher rate you cannot explain.