That is not true in most of Europe. Money you deposit in a bank is guaranteed by the state up to a certain limit (often 100 000€ per person per bank). Source

That is not true in most of Europe. Money you deposit in a bank is guaranteed by the state up to a certain limit (often 100 000€ per person per bank). Source (french) : https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/deposit_guarantee.fr.html https://www.ecb.europa.eu/ecb/educational/explainers/tell-me... > Selon la réglementation européenne, ces systèmes assurent 100 000 euros par déposant. > (DeepL) According to European regulations, these systems guarantee 100,000 euros per depositor.