Deposits can also be accompanied (depending on the country in which they are taken out) by a deposit guarantee system, which is an institution that aims to guarantee deposits in money and in securities or other financial instruments established in credit institutions, to be able to return the money to depositors in the event that the depository cannot do so, as shown in the following diagram:
The Fund is formed with annual contributions from financial institutions linked to the deposits they have raised. In case of need, the institutions must make extraordinary contributions. In addition, the Fund can draw on extraordinary contributions from the Central Bank and resort to borrowing.
The guarantee is applied per depositor, be it a natural or legal person, regardless of the number of taken-out products in which it appears as the owner in the same institution. For this reason, when an account has more than one holder, its amount is divided among the account holders according to the provisions of the deposit agreement or, failing that, equally, and each account holder is guaranteed up to the maximum amount.
Therefore, in the European Union, for instance, each account holder is guaranteed up to 100,000 euros.
