As an authorised deposit taking institution (ADI), deposits with Bank of us are covered by the Australian Government’s Financial Claims Scheme.
The Financial Claims Scheme was established in October 2008 when the Government moved to guarantee unconditionally up to $1 million of a depositor's total deposits with any individual Authorised Deposit Taking Institution (ADI) at no cost to the depositor.
In September 2011 the Australian Government committed to extending the scheme on a permanent basis with revised arrangements.
These arrangements are:
- A permanent guarantee of $250,000 for deposits effective from 1 February 2012.
- The $250,000 cap applies per account holder, per ADI.