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Depositor Protection for offshore savings accounts

What deposit protection can you expect if all goes wrong?

Whilst some might regard the level of UK investor compensation protection as ungenerous, savers should be aware that this is still considerably stronger than that offered offshore.

Here is some information about savings protection within the offshore centres considered on this site:

The Isle of Man offers 75% compensation up to the first £20,000 or equivalent for banks licensed in the Isle of Man (The Banking Business (Compensation of Depositors) Regulations 1991)
Guernsey has passed enabling legislation [The Banking Supervision (Bailiwick of Guernsey) Law, 1994] but no protection scheme has yet been introduced.
Jersey presently has no protection scheme.
Ireland has a scheme protecting 90% of the first €20,000 for certain types of deposit
Gibraltar - In 1999 instituted a scheme comparable to that in the UK offering compensation up to £18,000 to depositors in participating banks.
European Union - Is subject to a EU directive of 1994.
The Wider World - represented by Basle Committee countries.
International Survey - Old but still relevant article from the Herald Tribune.