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Money market accounts – deposit guarantee increase from 01.01.2011 that day money account deposit guarantee, which is provided by the legislator has been elevated to January 1, 2011 by 50,000 to 100,000. This is good news for all bank account holders, in particular money market accounts, fixed-term deposit accounts under current account and credit card deposit refund passbooks and savings bonds, because maximum can make up 100,000 per banking institution now instead of 50,000 and all the money in the event of a bank failure. The statutory deposit insurance is based the deposit protection act and investor compensation act EEAEG, 1 August 1998 and corresponds to EU directives into German law. This is the second increase of the statutory deposit insurance within the last two years. Until end of 2008 amount the statutory deposit insurance by day money and deposit only 90% to 20.880. Up to date spar entries were refunded as long as up to this amount only to 90%, in the case that the Bank went bankrupt.

As of 2009, the deposit guarantee was raised on 100%, the recoverable amount was to just 30,000 to 50,000 total charged. Important: when the deposit insurance is to plan, that is the limit not per bank account, but per customer with a credit institution. If you have a checking account and a day money account in addition to a Bank for this reason of the aggregated deposits should exceed not 50,000. A trick to get around that limit, is to apply the day money and checking account in the context of two different banks so that 50,000 deposit insurance available deposit account. The statutory deposit insurance protects primarily individuals and small companies. Larger companies are from the legal deposit protection mostly impossible, refer to the East Asia Economic Caucus- and investor compensation act.