Updated 24 October 2026

Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected

Quick answer: Most countries protect between about $50,000 and $250,000 of your bank deposits if your bank fails, per person, per bank. The United States protects $250,000 (per ownership category), Australia A$250,000 (about $176,000), the United Kingdom £120,000 since December 2025 (about $160,000), every EU country €100,000 (about $112,000), Switzerland CHF 100,000, Hong Kong HK$800,000 (about $102,000), Singapore S$100,000 (about $78,000), South Korea ₩100 million since September 2025 (about $76,000), Canada C$100,000 (about $72,000) and Japan ¥10 million (about $64,000). India protects ₹5 lakh, about $5,300, and South Africa R100,000, about $6,000. The interactive table below lists 30 countries and the EU, with each limit in local currency and in US dollars.

Deposit insurance is the reason most people never have to think about whether their bank is safe. If a bank collapses, a government-backed scheme repays depositors up to a limit, usually within days. But the limits vary enormously from country to country, they have changed a lot since 2024, and they cover less than many people assume. Money held in a payment app, an investment platform or a crypto exchange is usually not protected at all.

This guide brings the current limits together in one place, checked against each scheme's own figures in October 2026, and explains how coverage works, what is excluded and how to protect balances above the limit.

Deposit insurance limits by country (2026)
How much of your money a government-backed scheme repays if your bank fails, per person, per bank. Sort by any column, filter by region, and tap a country for details.
CountryLimit≈ US$
United StatesFDIC$250,000$250,000
NorwayBankenes sikringsfondNOK 2 million$213,900
MexicoIPAB400,000 UDIs (≈ MX$3.5m)$186,300
AustraliaFinancial Claims SchemeA$250,000$175,600
United KingdomFSCS£120,000$160,400
SwitzerlandesisuisseCHF 100,000$121,300
European Union (all 27)National schemes€100,000$111,900
IndonesiaLPSRp2 billion$110,400
Hong KongDPSHK$800,000$102,000
SingaporeSDICS$100,000$78,200
South KoreaKDIC₩100 million$75,500
ChinaDeposit insurance fund¥500,000 (RMB)$75,000
CanadaCDICC$100,000$71,500
JapanDICJ¥10 million plus interest$63,800
MalaysiaPIDMRM250,000$61,200
New ZealandDepositor Compensation SchemeNZ$100,000$56,900
OmanBank Deposits ProtectionOMR 20,000$52,000
BrazilFGCR$250,000$49,500
ThailandDPA฿1 million$29,600
TurkeyTMSFTRY 1.2 million$24,100
PhilippinesPDIC₱1 million$15,700
South AfricaCODIR100,000$6,000
IndiaDICGC₹5 lakh (₹500,000)$5,300
ArgentinaSEDESAARS 50 million—
RussiaDIARUB 1.4 million—
NigeriaNDIC₦5 million—
KenyaKDICKES 500,000—
TaiwanCDICNT$3 million—
VietnamDIV₫125 million—
PakistanDPCPKR 1 million—
30 countries shown; median limit about $75,000
Limits checked against each scheme or official announcements in October 2026. Dollar values use European Central Bank reference rates for 23 October 2026 (Oman: fixed peg) and are rounded; blank where the ECB publishes no rate. Limits apply per depositor per bank (in some countries, per ownership category). Money in e-money and payment apps, investments and crypto is not covered. The UAE, Saudi Arabia and Bahrain are not listed because we could not confirm a current published limit.

How Deposit Insurance Works

A deposit insurance scheme is a fund, usually run by a public agency, that repays depositors when a member bank fails. Banks pay regular premiums into the fund, and in most countries the government stands behind it if the fund runs short. Today more than 110 countries have such a scheme, according to the International Association of Deposit Insurers.

The basic rules are similar almost everywhere:

  • The limit is per depositor, per bank. If you have three accounts at the same bank, they are added together and covered up to one limit. Accounts at a different bank are covered separately.
  • Membership is automatic. You do not need to apply or pay. If your bank is a licensed member of the scheme, your eligible deposits are covered.
  • It covers deposits, not investments. Current (checking) accounts, savings accounts and fixed or term deposits are covered. Shares, bonds, funds, insurance policies and crypto are not, even when you buy them through a bank.
  • Payouts are fast. In the US, the FDIC usually pays insured depositors within one or two business days, often by moving accounts to another bank overnight. EU law requires payment within seven working days. The UK's FSCS aims to pay most people within seven days, and Australia's Financial Claims Scheme has the same target.

Some countries add their own refinements. In the United States the limit applies per ownership category, so a single account, a joint account and a retirement account at the same bank are each insured separately. Japan fully protects non-interest-bearing settlement accounts, the kind businesses use for payments. Brazil caps the total any one person can claim in a four-year period at R$1 million, however many banks fail.

The Highest Limits

Measured in US dollars, the most generous schemes in the table are:

  • United States: $250,000. The limit has been unchanged since 2008, when it was raised from $100,000 during the financial crisis. Because it applies per ownership category, a married couple can insure well over $1 million at one bank using individual, joint and retirement accounts.
  • Norway: NOK 2 million (about $214,000). Norway kept its high national limit after joining the European Economic Area's rules, which are otherwise based on €100,000.
  • Mexico: 400,000 UDIs (about MX$3.5 million, roughly $186,000). Mexico's limit is set in inflation-linked investment units, so its peso value rises with prices.
  • Australia: A$250,000 (about $176,000) per account holder per bank, under the Financial Claims Scheme.
  • United Kingdom: £120,000 (about $160,000) since 1 December 2025, up from £85,000. Joint accounts are covered up to £240,000.

In dollar terms these limits look similar, but relative to incomes they differ a lot. The US limit is roughly three times average income per person; Indonesia's Rp2 billion (about $110,000) is more than 20 times average income, which makes it one of the most generous schemes in the world for ordinary savers.

The Lowest Limits

At the other end of the table:

  • India: ₹5 lakh (about $5,300). The limit was raised from ₹1 lakh in 2020, after the collapse of PMC Bank. Since 2021 depositors of a bank placed under restrictions can claim up to the limit within 90 days. Raising the cover again has been discussed publicly, but no new limit had been announced by October 2026.
  • South Africa: R100,000 (about $6,000). South Africa launched its Corporation for Deposit Insurance only in April 2024. Before that, there was no formal scheme at all.
  • Philippines: ₱1 million (about $15,700), doubled from ₱500,000 in March 2025.
  • Turkey: TRY 1.2 million (about $24,000) for 2026. Turkey revises its limit every year to keep pace with high inflation.
  • Thailand: ฿1 million (about $30,000), reduced in stages from full protection, which ended in 2012.

A low limit in dollars does not always mean weak protection. India's ₹5 lakh covers the whole balance of the large majority of individual depositors, because most accounts are small. The question for you is not how your country compares with others but whether your own savings fit under the limit.

What Changed in 2024–2026

The last two years brought the biggest wave of increases in a decade, partly in response to the US bank failures of 2023 and partly because inflation had eroded limits that had not moved in years:

  • Singapore raised its limit from S$75,000 to S$100,000 in April 2024.
  • South Africa started its first deposit insurance scheme in April 2024, at R100,000.
  • Hong Kong raised its limit from HK$500,000 to HK$800,000 in October 2024.
  • Pakistan doubled its limit from PKR 500,000 to PKR 1 million in October 2024.
  • The Philippines doubled its limit to ₱1 million in March 2025.
  • New Zealand introduced its first scheme, the Depositor Compensation Scheme, on 1 July 2025, at NZ$100,000.
  • South Korea doubled its limit from ₩50 million to ₩100 million on 1 September 2025, the first change in 24 years.
  • The United Kingdom raised its limit from £85,000 to £120,000 on 1 December 2025.
  • Argentina raised its limit to ARS 50 million from 1 April 2026, after years of high inflation.
  • Turkey raised its limit to TRY 1.2 million for 2026.

The US, the EU, Canada, Japan, Australia and India did not change their limits in this period. The US debate after the failure of Silicon Valley Bank in 2023 produced proposals for higher cover for business payment accounts, but no change in law.

Region by Region

Americas

The US leads with $250,000 per ownership category. Canada protects C$100,000 per eligible category through the Canada Deposit Insurance Corporation, with separate cover for joint accounts, registered retirement savings (RRSPs and RRIFs), tax-free savings accounts (TFSAs) and several other categories. Brazil's Fundo Garantidor de Créditos covers R$250,000 per person per institution. Mexico's IPAB covers 400,000 UDIs, and Argentina's SEDESA covers ARS 50 million.

Europe

All 27 EU countries protect €100,000 per depositor per bank under the Deposit Guarantee Schemes Directive, or the equivalent in local currency outside the euro area. Many also protect temporary high balances, such as the proceeds of a house sale, for a few months. The UK's limit is now £120,000, with temporary high balances covered up to £1.4 million for six months. Switzerland protects CHF 100,000 through esisuisse, and Norway NOK 2 million.

Asia-Pacific

The region has the widest range, from India's ₹5 lakh to Indonesia's Rp2 billion. Japan protects ¥10 million plus interest, China ¥500,000, Hong Kong HK$800,000, Taiwan NT$3 million, South Korea ₩100 million, Singapore S$100,000, Malaysia RM250,000 per depositor per member bank, Thailand ฿1 million and Vietnam ₫125 million. Australia protects A$250,000 and New Zealand NZ$100,000.

Middle East and Africa

Formal deposit insurance is less common here. Oman introduced a deposit protection law in 2025 covering up to OMR 20,000 (about $52,000). Nigeria's NDIC covers ₦5 million at commercial banks, Kenya's KDIC covers KES 500,000, and South Africa's CODI R100,000. Several Gulf states, including the UAE and Saudi Arabia, have no published limit under a formal scheme; in practice their governments have historically supported banks, but that is not the same as a legal guarantee.

What Is Not Covered

This is where most people get caught out. Deposit insurance protects money held as a deposit at a licensed bank. It usually does not protect:

  • Money in payment and fintech apps. Balances in PayPal, Wise, Revolut (outside the countries where it holds a banking licence), Cash App, Venmo and similar apps are often held as e-money, not bank deposits. E-money firms must keep customer money separate (safeguarded), but if the firm fails you may wait months and receive less than you held. When the US fintech middleman Synapse collapsed in 2024, thousands of customers found that money they thought was FDIC-insured could not be traced. How to check is explained in our guide What Happens to Your Money If Your Bank or Fintech App Goes Bust?
  • Investments. Shares, funds, bonds and ETFs are not deposits. Separate investor compensation schemes (SIPC in the US, the FSCS investment limit in the UK, up to €20,000 in the EU) cover only the failure of the broker, not falls in value.
  • Crypto and stablecoins. No deposit insurance scheme covers crypto assets or stablecoins, even when they are held through a bank's app.
  • Money in a branch of a foreign bank. A branch (as opposed to a locally licensed subsidiary) may be covered by its home country's scheme or not at all. Check whether the bank is a member of your country's scheme.
  • Some large or professional depositors. Many schemes exclude other banks, insurers, pension funds and public authorities. Companies are covered in most countries, but up to the same limit as individuals.

Joint Accounts, Businesses and Couples

How joint accounts are treated makes a big difference for families:

  • United States: a joint account is insured up to $250,000 per co-owner, so $500,000 for a couple, on top of each person's individual accounts.
  • United Kingdom and the EU: each joint holder gets their own limit, so a joint account is covered up to £240,000 or €200,000 for a couple, but this is shared with any individual accounts each person holds at the same bank.
  • Australia: the A$250,000 applies to each account holder's share, so a couple's joint account is protected up to A$500,000.
  • Canada: joint accounts are a separate category, protected up to C$100,000 in total for the joint owners, separately from each person's own accounts.

Small businesses are usually covered as one depositor, up to the same limit as an individual. That is why companies with large payroll accounts often spread money across several banks or use sweep services.

How to Protect Balances Above the Limit

If you hold more than the limit, for example after selling a house, receiving an inheritance or building a large emergency fund, there are several straightforward options:

  1. Use more than one bank. The limit applies per bank, so splitting money across two or three unrelated banks multiplies your cover. Check that the banks are genuinely separate licences: in some countries, several brands share one banking licence and one limit.
  2. Use account categories (US and Canada). Individual, joint, retirement and trust accounts are insured separately, which lets a family protect much more at one bank.
  3. Hold government bonds or bills. Short-term government bills, such as US Treasury bills, UK gilts or Indian treasury bills, are backed by the government directly, not by a deposit scheme, and have no limit. Our guide Where to Keep Your Cash When Rates Rise: Savings Accounts, T-Bills and Money Market Funds compares the options.
  4. Use government savings institutions. UK savers can hold up to £2 million in National Savings and Investments products, which are fully backed by the Treasury. Several other countries have similar postal or national savings schemes.
  5. Use temporary high balance protection. In the UK and many EU countries, money from life events such as a house sale, inheritance or insurance payout is protected at a much higher level for a few months.
  6. Consider deposit networks (US). Services such as IntraFi spread large deposits across many banks so that each portion stays within $250,000.

None of this means you should worry about everyday balances. Bank failures are rare, and in almost every case insured depositors have been repaid in full and on time.

How Safe Are the Schemes Themselves?

A scheme is only as good as the money behind it. Deposit insurance funds typically hold 1% to 2% of insured deposits, which is enough for the failure of small and mid-sized banks but not for a systemic crisis. What makes the promise credible is the government standing behind the fund: the FDIC has a line of credit with the US Treasury, the FSCS can borrow from the Treasury through the National Loans Fund, and EU schemes can raise extra contributions from banks.

In practice, during the 2008 financial crisis and again in 2023, governments went further than the legal limit to stop bank runs, guaranteeing all deposits at some failed banks. You should not count on that: it is a political decision made in a crisis, not a right.

Checking Whether Your Bank Is Covered

It takes a minute:

  • Look for the scheme's logo or statement on your bank's website or app, usually in the footer.
  • Search the scheme's own list of members: FDIC BankFind in the US, the FSCS checker in the UK, CDIC's member list in Canada, APRA's list of authorised deposit-taking institutions in Australia, or the DICGC list of insured banks in India.
  • For an app, look for the words "deposit" and the name of a partner bank. If the app says it holds your money in "safeguarded" or "pooled" accounts, it is probably e-money and not covered.
  • Check whether two of your brands are the same bank, because they may share one limit.

Data Notes

Limits come from the schemes listed in the sources and were checked in October 2026. Dollar values use European Central Bank reference rates for 23 October 2026, except Oman, whose rial is pegged to the dollar, and are rounded. The ECB publishes no reference rate for the Argentine peso, Russian rouble, Nigerian naira, Kenyan shilling, New Taiwan dollar, Vietnamese dong or Pakistani rupee, so the table leaves their dollar column blank rather than mix sources. Limits in high-inflation countries, and Mexico's inflation-linked limit, change in local currency more often than elsewhere. We list the UAE, Saudi Arabia and Bahrain as having no confirmed published limit; if that changes, we will update the table.

Frequently Asked Questions

Which country has the highest deposit insurance limit?

In US dollars, the United States, at $250,000 per depositor per bank per ownership category. Norway (about $214,000), Mexico (about $186,000) and Australia (about $176,000) follow.

What is the deposit insurance limit in the EU?

€100,000 per depositor per bank in every EU country, set by EU law, with the equivalent in local currency in countries outside the euro area.

What is the UK deposit protection limit in 2026?

£120,000 per person per banking licence, since 1 December 2025. Temporary high balances from life events are protected up to £1.4 million for six months.

Is my money protected if I have accounts at two brands of the same bank?

Only once, if both brands share one banking licence. Check the scheme's list or the bank's website to see which brands share a licence.

Is money in PayPal, Wise or Revolut insured?

Usually not by deposit insurance, because these balances are often e-money rather than bank deposits. They are safeguarded instead, which protects you differently and less directly. Where an app holds a banking licence in your country, deposits at that bank are covered.

How long does it take to get money back?

In the US, usually one or two business days. In the UK, the EU and Australia, typically within seven days. In India, within 90 days of a bank being placed under restrictions.

Are foreign residents covered?

Yes. Deposit insurance depends on where the bank is licensed, not your nationality or residence. A non-resident with an account at a US bank is covered by the FDIC in the same way as a US citizen.

Does deposit insurance cover interest?

In most schemes, yes, as long as the principal plus interest stays within the limit. Japan's ¥10 million is principal plus the interest on it.

Final Thoughts

For most people, the practical takeaway is short. Keep everyday money at a licensed bank that is a member of your country's scheme, know your limit, and if your savings are larger than it, spread them across banks or hold some in government bills. Be careful with apps that look like banks but are not, because that is where real people have lost money in recent years.

Limits change more often than they used to, and we will keep this table up to date as they do.

Sources

Cite this page: Blog Digest, “Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected”, updated 24 October 2026, https://randomthoughtsever.blogspot.com/2026/10/deposit-insurance-limits-by-country.html

Related Guides

Limits checked against official scheme information in October 2026; dollar values use ECB reference rates of 23 October 2026. This article is for information and isn't financial advice. Check your bank's membership with your country's scheme.