Deposit Protection - Australia
Jan 15th 2012, 9:27 am
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Deposit Protection - Australia
From 1 February 2012, the limit for deposit protection in Australia will be A$250,000 per person, per institution. This is reduced from the current limit of A$1 million.
http://www.apra.gov.au/CrossIndustry...s/default.aspx
List of authorized institutions (note that only Australian banks and foreign banks incorporated in Australia (ie, subsidiaries) are covered). Also, foreign currency deposits are no longer covered, since October 2011.
http://www.apra.gov.au/adi/Pages/adilist.aspx
UK deposit protection (onshore only) is at GBP85,000 per person per institution (some trading names and subsidiaries share a banking licence).
http://www.fsa.gov.uk/pages/consumer...ps/index.shtml
http://www.apra.gov.au/CrossIndustry...s/default.aspx
List of authorized institutions (note that only Australian banks and foreign banks incorporated in Australia (ie, subsidiaries) are covered). Also, foreign currency deposits are no longer covered, since October 2011.
http://www.apra.gov.au/adi/Pages/adilist.aspx
UK deposit protection (onshore only) is at GBP85,000 per person per institution (some trading names and subsidiaries share a banking licence).
http://www.fsa.gov.uk/pages/consumer...ps/index.shtml
