According to articles 96 and following of the Consolidated Banking Law, bank deposits are guaranteed up to 100 euros per capita, a sum that does not depend on the number of accounts that a customer has at a certain institution. Furthermore, the guarantee proceeds by bank: if the depositor has two or more accounts opened with different institutions, it operates separately on the various accounts up to this threshold.
Similar speech for joint accounts. The guarantee, in this case, is 100 euros for each depositor, provided that the depositor in question does not have other accounts opened at the same institution. The protection covers current accounts, deposits, banker's checks and registered certificates of deposit, while it excludes bearer deposits and other repayable funds, bonds and credits deriving from acceptances, promissory notes and securities transactions, deposits of the administrations of state and local entities and the financial instruments governed by the civil code.
Bank-level guarantee systems, whose purpose is to offer protection to so-called "uninformed" savers, i.e. those who do not have information on the state of health of the institution to which they entrust their savings, are governed by extensive legislation at European level, which provides for the application of a maximum repayment limit per depositor of 100 thousand euros, to be paid within 20 working days.
