Temporary high balances
The Norwegian Banks’ Guarantee fund protects temporary high balances in your bank account of an unlimited amount for up to twelve months.
Certain life events could have caused a temporary high balance in your bank account, including:
- Real estate transactions related to private and leisure estate
- Marriage or civil partnership
- Divorce or dissolution of their civil partnership
- Redundancy, benefits payable on retirement
- Disability or incapacity
- Inheritance
- Benefits payable under an insurance policy
- Claim for compensation for wrongful conviction
- Claim for compensation for unfair dismissal
When applying for reimbursement, you must prove you have held a temporary high balance. Proof could include, but not be limited to, the following:
- A property sale receipt or agreement
- A letter from a lawyer, conveyancer, mortgage provider, former employer, pension trustees
- A letter from an insurer regarding an insurance payout
- A letter from a former employer, pension trustees
- Doctor’s medical assessment
- Social security statements
- A will
- Death certificate
- Marriage certificate
- A court judgement
This list is not exhaustive, and the evidence required will depend on the life event of your individual circumstances. If you upload or send us your application and provide the relevant and valid supporting evidence, we will pay you compensation within three months.
