Australian Government guarantee

On the 12th of October 2008 the Australian Government put in place far reaching guarantee arrangements for deposits with eligible Authorised Deposit – Taking Institutions (ADIs). Known as the Financial Claims Scheme, initially all deposits were covered but from November 28 2008 a cap of $1 million per account-holder, per ADI was put in place. There is no charge for accessing the Financial Claims Scheme to the depositor.

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