Norwegian banks' branches abroad
The coverage level for bank customers who have deposits in Norwegian banks' branches abroad is EUR 100,000 or an amount equivalent to EUR 100,000 (eg. SEK 950,000). This applies, for example, to customers in the branches of DNB and Santander in Sweden and Denmark.
Cross border activity
Some Norwegian banks have organized their foreign operations within the EU as cross-border activity. This means that the business abroad is operated by the organization in Norway. This applies for example to Bank Norwegian, Instabank, Monobank and BN Bank. The coverage level for Norwegian banks with cross border activity has previously been NOK 2 million.
From 1 January 2019, the coverage level of EUR 100,000 or an amount equivalent to EUR 100,000 (eg. SEK 950,000) will apply to all customers with deposits in Norwegian banks’ operations in EU countries, regardless of organization (branch or cross-border activity).
Some of the banks with cross-border activity have offered deposits with fixed interest rates. The coverage level of such deposits will still be NOK 2 million until the expiration of the fixed rate period.