The DPS protects your eligible deposits held with banks in Hong Kong which are members of the Scheme. It will pay you compensation up to a limit of HK$800,000 if the bank with which you hold your eligible deposits fails.

Your eligible deposits are protected regardless of the currency in which the deposits are denominated. Eligible deposits include all types of ordinary deposits such as current account deposits, savings account deposits, secured deposits and time deposits with a maturity not exceeding five years. However, time deposits with a maturity longer than five years, structured deposits (such as foreign exchange linked and equity linked deposits), bearer instruments (such as bearer certificates of deposit) and offshore deposits are not protected by the Scheme.

Financial products other than deposits are not protected by the Scheme. For example, investment products such as bonds, stocks, warrants, mutual funds, unit trusts, insurance policies and virtual assets are not protected by the Scheme.

The deposits held by excluded persons are not protected by the Scheme, including:

• a related company of the Scheme member
• a multilateral development bank as defined in section 2(1) of the Banking Ordinance
• an authorized institution, i.e. licensed banks, restricted licence banks and deposit-taking companies
• a foreign bank which is not an authorized institution in Hong Kong
• the senior management, controllers and directors of the Scheme member and its related companies

In summary, the following types of financial products are not protected by the DPS:

• offshore deposits
• structured deposits
• bearer instruments
• term deposits with a maturity exceeding 5 years
• non-deposit financial products
• deposits held for the account of the Exchange Fund
• deposits held by excluded persons
• stored value facilities

To find out whether your deposit is protected by the DPS, please contact your bank.