The main rule is that the guarantee scheme is obliged to cover losses incurred by a depositor on deposits in a member institution. This will also apply foreign citizens with deposits in a Norwegian bank.

Regarding foreign branches of Norwegian Santander Consumer Bank AS, the Norwegian guarantee scheme applies. Maximum guaranteed amount is limited to the closest comparable deposit guarantee scheme in the branch's host country. For Sweden and Denmark this means 950,000 SEK and 100,000 EUR. Bank Norwegian is organized as a cross-border activity, not a branch. This means that the banking operations abroad (for example in Sweden) is operated by the organization in Norway. The guarantee amount of 2 million is covered by the Norwegian guarantee scheme.

Regarding branches in Norway of foreign banks that have branch membership in the Norwegian Guarantee Fund, the rule is somewhat different. This follows a regulation on branch membership § 2, second paragraph: "As depositors in branches in this country is considered depositor who has made deposits, and which have a natural affiliation to the branch." The Financial Supervisory Authority of Norway (FSA) may issue further rules on who should be regarded as depositor in the branch.