Work out what is covered
The scheme covers eligible current accounts, deposit accounts and share accounts held with covered banks, building societies and credit unions. Add together all eligible balances you hold with the same institution, including balances under different brand names if those brands share one banking licence.
A joint account is normally treated as belonging equally to its named holders unless the institution’s records show a different split. Coverage applies separately to each eligible holder, subject to the scheme rules.
Check the institution, not just the app
A familiar app or Irish IBAN does not by itself tell you which protection applies. A digital provider may be a bank, an electronic-money institution or a payment institution. Banks use a deposit-guarantee scheme. Other providers protect customer funds through safeguarding rules, which is a different arrangement.
What to do
- List balances held under each legal institution, not each brand.
- Check whether your account is a deposit account or an e-money account.
- Keep your name, address and tax details current with the provider.
- If a balance temporarily exceeds the ordinary limit after a major life event, check the separate temporary-high-balance rules.
Sources and review record
- Central Bank of Ireland: Deposit Guarantee Scheme · accessed 11 July 2026.
- Central Bank: digital-only banking providers · accessed 11 July 2026.
This guide provides general information for the Republic of Ireland. Check the linked official guidance for your circumstances and current rules.