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Banking FAQs

The following frequently asked questions relate to the Financial Claims Scheme for banks, building societies and credit unions.

Coverage of the FCS

Accounts and account holders

Payments

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How is the Financial Claims Scheme activated?

The Financial Claims Scheme (FCS) can only be activated by the Australian Government, and this will only be done in the unlikely event that a bank, building society or credit union has failed and can no longer meet its financial obligations.