![]() ![]() Please note the following banks BOQ, Members Equity Bank and BOQ Specialist combine to form one ADI. In the case of joint accounts, each account holder is entitled to an individual guarantee up to $250,000. If you place more than $250,000 with one ADI, then only up to $250,000 is guaranteed. Through FCS, the Australian Government guarantees deposits up to $250,000 and the cap applies per ADI.įor example, if you place $250,000 with one ADI and $250,000 with another, then both of the deposits are guaranteed. Through the Financial Claims Scheme (FCS), the Australian Government guarantees deposits up to $250,000 and the cap applies per ADI. It only covers financial institutions that are incorporated in Australia and who are Authorised Deposit-taking Institutions (ADI's). The Australian Government's Financial Claims Scheme (FCS) protects people's deposits in the unlikely event that a bank, building society and credit union fails.
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