This depends on the country you live in, whether you have your money in a bank covered by the laws of that country and possibly the type of bank or the type of account.

In the UK, for example, personal savings are now guaranteed up to £85,000, as they are in all countries in the European Economic area. This comes under the Financial Services Compensation Scheme and should apply to anyone who has savings in any UK bank. Some people who have more than this put money into two or three different accounts, which should also be covered by the scheme. However, these are uncertain times and the rules can change, so it's always worth exploring the official government website and perhaps contacting them directly with any savings.

If you have savings from a foreign bank, you are not covered by the government scheme but will have to seek compensation from the government of the country in question.