As a German deposit-taking financial institution, Varengold Bank AG is a statutory member of the German Deposit Guarantee Scheme (EdB). Deposits are therefore protected to a total of 100,000 Euros per depositor.
The task of the EdB is to compensate the depositor for non-reimbursed deposits in the event of the insolvency of an institution which is a member of the EdB. The deposit guarantee primarily covers savings and time deposits as well as certificates of deposit of private individuals, corporations and partnerships.
In addition to protecting deposits, the deposit guarantee scheme also covers liabilities arising from securities transactions with the deposit taking institution, to a value of 90% with a maximum amount of 20,000 Euros (or equivalent).
You can find more information www.edb-banken.de