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The Australian Government's Financial Claims Scheme (FCS) protects people's deposits in the unlikely event that a bank, building society or credit union fails. It only covers banking institutions that are incorporated in Australia, and has been known as the Australian Government deposit guarantee.

The FCS also covers most types of insurance claims if a general insurer fails in Australia.

The FCS can only be activated by the Australian Government. The Australian Prudential Regulation Authority (APRA) is responsible for administering the Scheme.


Under the FCS, account holders are protected up to $250,000 for deposits at each bank, building society and credit union incorporated in Australia.

General insurers

Under the FCS most policy holders with a general insurer are protected for up to $5,000 for eligible claims - some policy holders are covered for more than $5,000.