BFG (Polish Bank Guarantee Fund)

Definition

The Polish fund that guarantees deposits in Polish banks.

What it means in practice

If a Polish bank fails, the BFG pays out money up to the equivalent of EUR 100,000 per person (including deposits in foreign currencies, paid out in PLN).

Why it affects your choice

It is the trust anchor for the currency accounts at mBank, ING, PKO BP and Pekao — all covered by the BFG.

Watch out

The BFG is Poland's version of a deposit guarantee scheme (DGS). bunq is covered by the Dutch DGS, not the BFG — protection sits in another country, but on similar terms.

"BFG" may be unfamiliar to people from outside Poland — it is the Polish deposit-guarantee fund. WTP Finance is for information only.