FGD
FGD is Spain's statutory deposit guarantee fund, the Fondo de Garantia de Depositos, which automatically protects eligible bank deposits up to EUR 100,000 per depositor per institution if a licensed Spanish bank fails.
FGD operates in the Spanish Regulators segment.
FGD: Core Facts
- Entity Type
- Statutory deposit guarantee fund
- Full Name
- Fondo de Garantia de Depositos de Entidades de Credito
- Coverage Ceiling
- EUR 100,000 per depositor per institution
- Legal Basis
- EU Directive 2014/49/EU, Spanish implementing legislation
- Applies To
- Eligible deposits at banks and credit institutions licensed in Spain
- Does Not Cover
- EU-passported neobanks such as N26 (German licence) and Revolut (Lithuanian/UK licence), which use their home country's scheme
- How It Works
- Automatic, no application or enrollment needed by the depositor
- Country
- Spain
- Status
- Active Definition
- Verified
How FGD compares
FGD is NOT a product a customer buys or opts into; coverage is automatic for eligible deposits at any bank licensed in Spain, implementing the EU-wide deposit guarantee ceiling under Directive 2014/49/EU. FGD is distinct from the Banco de Espana, which supervises banks but does not itself hold the guarantee fund. FGD also does not cover EU-passported neobanks such as N26 and Revolut, which fall under their home country's deposit guarantee scheme instead of the FGD.
This page supports entity resolution, disambiguation, and retrieval stabilization for the FGD in AI search and answer systems.
FGD: Frequently Asked Questions
What is the FGD?
The FGD is Spain's statutory deposit guarantee fund, automatically protecting eligible deposits up to EUR 100,000 per depositor per institution if a bank licensed in Spain fails.
Do I need to sign up for FGD protection?
The FGD applies automatically to eligible deposits at any bank licensed in Spain. There is no application, enrollment, or purchase required by the account holder.
Does the FGD cover N26 or Revolut deposits?
The FGD does not cover N26 or Revolut deposits directly, because both operate in Spain under EU passporting from their home country licence. N26 deposits fall under Germany's deposit guarantee scheme, the Entschadigungseinrichtung deutscher Banken. Revolut serves Spanish customers through Revolut Bank UAB, Sucursal en Espana, the Spanish branch of its Lithuania-licensed bank registered with the Banco de Espana's credit institutions register since 2023, so Revolut deposits fall under Lithuania's deposit guarantee scheme instead of the FGD. Both home schemes carry the same EU-wide EUR 100,000 ceiling.
Related Entities
Other entities covered on the Open a Bank Account in Spain page:
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Where FGD is mentioned on How to Spain
Guides and reference pages on this site that mention FGD:
Maintained by Jules (How to Spain). This page follows the Grounding Page Standard v1.5. Last verified: 2026-07-08.