Information regarding deposit guarantee

Basic Information about the Protection of Deposits
Deposits in Skandinaviska Enskilda Banken AB (SEB) are protected by: Swedish National Debt Office, Riksgälden Insättningsgarantin 1
Limit of protection:

SEK 950,000 per depositor per credit institution 2 

If you have more deposits at the same credit institution: All your deposits at the same credit institution are 'aggregated' and the total is subject to the limit of SEK 950,000 2
If you have a joint account with other person(s): The limit of SEK 950,000 applies to each depositor separately 3
Reimbursement period in case of credit institution´s failure: 7 working days 4
Currency of reimbursement: Reimbursement will be made in Swedish krona (SEK)
Contact: Swedish National Debt Office, Riksgälden Insättningsgarantin
SE-103 74 Stockholm
Phone: +46 (8) 613 52 00
E-mail: ig@riksgalden.se
More information: www.insattningsgarantin.se
More information
  1. Scheme responsible for the protection of your deposit Your deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your credit institution should occur, your deposits would be repaid up to SEK 950,000.
  2. General limit of protection If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers at maximum SEK 950,000 per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with SEK 900,000 and a current account with SEK 200,000, he or she will only be repaid SEK 950,000. In some cases, regarding deposits that are related to certain defined events, such as sale of a private residence, termination of employment, inheritance or insurance claims, deposits are protected above SEK 950,000, up to an amount of SEK 5,000,000. More information can be obtained under www.insattningsgarantin.se.
  3. Limit of protection for joint accounts In case of joint accounts, the limit of SEK 950,000 applies to each depositor.
  4. Reimbursement The responsible Deposit Guarantee Scheme is Riksgälden Insättningsgarantin, 103 74 Stockholm, phone: +46 (0)8 613 52 00, e-mail: ig@riksgalden.se, www.insattningsgarantin.se. It will repay your deposits (up to SEK 950,000) within 7 working days at the latest. If you have not been repaid within these deadlines, you should contact the Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a certain time limit. Further information can be obtained under www.insattningsgarantin.se.
Other important information

In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. The following Swedish or equivalent foreign depositors are not eligible for compensation from the deposit guarantee: banks, credit market companies, securities companies, insurance companies, reinsurance companies, mutual benefit societies, financial institutions according to the Banking and Financing Business Act (2004:297), securities funds and alternative investment funds, pension funds, county councils, municipalities or other government agencies. Additional information regarding exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Your credit institution will also inform you on request whether certain products are covered or not. If deposits are covered, the credit institution shall also confirm this on the statement of account.

Investor compensation

Since SEB holds customers' securities separately from the bank's assets, they will be returned to customers in the event of bankruptcy. Investor compensation comes into effect when a financial institution has gone bankrupt and it is impossible for a customer to recover his or her securities. Pursuant to the Investor Compensation Act, each customer is entitled to compensation for lost assets up to maximum total value of SEK 250,000 per financial institution. Compensation may also cover funds that the bank has received in conjunction with providing an investment service for which it is accountable. The customer's compensation is calculated based on the market value of the securities in question at the time of bankruptcy.

If two or more people make a joint deposit, each receives a maximum of SEK 250,000 in compensation. The compensation is not affected by any debts the customer may owe to the financial institution.

Customers claiming compensation must file a claim with the Swedish National Debt Office within one year of the day of the bankruptcy decision. The Swedish National Debt Office is responsible for investigating the claim as well as the payment of compensation.

Which assets are covered by investor compensation?

Investor compensation covers all types of securities such as shares, bonds, share index bonds, options and forwards.

In regard to investment fund units, the investor compensation applies if the units are manager-registered.

Which assets are not covered by investor compensation?

Funds in accounts are generally covered by the deposit guarantee instead of investor compensation. 

Securities that fall into the category of individual pension savings (IPS) are not covered by investor protection.

More information about investor compensation is available on the Swedish National Debt Office website.