Protection
Financial Claims Scheme
Eligible deposits with Charity Bank Australia are protected up to A$250,000 per account holder under the Australian Government’s deposit guarantee.
What the scheme is
The Financial Claims Scheme (FCS) is the Australian Government’s guarantee of deposits held with authorised deposit-taking institutions (ADIs): banks, building societies and credit unions regulated by the Australian Prudential Regulation Authority (APRA). If an ADI fails, the scheme pays eligible account holders their protected deposits, up to the limit, so they can get on with their lives.
Charity Bank Australia is an ADI, so the scheme applies to eligible deposits held with us.
The limit
A$250,000 per account holder, per ADI. The limit applies to the total of all your eligible deposits with Charity Bank Australia, not to each account.
Joint accounts: each account holder is protected up to A$250,000 for their share.
Charities, businesses, trusts and other organisations are account holders in their own right and are protected up to the same limit.
Deposits with other ADIs are protected separately, up to the limit at each one.
What is covered, and what is not
Everyday accounts, at-call savings, notice accounts and term deposits held in Australian dollars with Charity Bank Australia.
Crypto assets held in your wallet, staked assets, and anything else that is not a deposit. Values of these can fall as well as rise, and they sit outside the scheme entirely.
The scheme is administered by APRA. Full details, including how a payout would be made, are on the scheme’s own site at www.fcs.gov.au.
Questions about your own accounts? Use our Contact Us page.
Savings
Save with a bank that puts your money where your values are
Open an AUD savings account, at-call, notice or term deposit, that earns you a return and supports the charities and social enterprises that borrow from us.
