The Deposit Guarantee and Resolution Fund (FGDR) publishes its annual barometer. His study reveals that while the majority of French people are aware of this organization, only a third are aware of the compensation ceiling that applies in the event of bank failure.
The Deposit Guarantee and Resolution Fund (FGDR) has just measured, as it does every year, the knowledge of the French people about deposit guarantees. In the event of bank failure, the FDGR protects and compensates each customer, up to 100,000 euros per establishment.
According to this annual survey (1), only 53% of French people say they know not to lose all their money if their bank goes bankrupt. If the majority knows about this protection, only 29% know that the ceiling is 100,000 euros per customer and per bank. A percentage all the same up 7 points over one year. If the amount in your bank accounts exceeds this ceiling, it is therefore advisable to distribute it among several establishments.
But according to this survey, what the French still know the least about is the compensation period. The deadline of 7 working days is only known by 10% of French people.
The French are confident in the banking sector
Knowing the details of the deposit guarantee mechanism is difficult. However, the communication efforts that the FGDR has undertaken for several years with the general public and in partnership with the banking sector seem to be partly bearing fruit, commented Thierry Dissaux, Chairman of the FGDR’s Executive Board in a press release.
Finally, the Deposit Guarantee and Resolution Fund explains in its study that the confidence of the French towards the banking system is getting stronger from year to year to reach, in 2023, 72% (+4% compared to 2022). And this, despite the context of bank failures in the USA and Switzerland. This score goes up 81% for those who are familiar with the FGDR and its mission. In the end, 74% of people questioned said they were confident about the security of the sums entrusted to a bank in France, this is an increase of 6 points compared to 2022.
Livret A, bank account… Is your guarantee of 100,000 euros insufficient?
(1) Barometer produced by Harris Interactive based on an online survey conducted among a representative sample of French people, made up of 2193 people, aged 18 and over, from March 24 to April 07, 2023.