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Does the Australian Governments Financial Claims Scheme (‘FCS’) apply to business deposits?

Does the Australian Governments Financial Claims Scheme (‘FCS’) apply to business deposits?

Yes. Under the FCS an account holder who is a body corporate, partnership, unincorporated association and trustee of a trust is covered under the scheme up to the limit of $250,000 per account holder per Authorised Deposit-Taking institutions (‘ADI’). For more information, refer to apra.gov.au