Financial Claims Scheme

Last Updated 23 November 2021

The Australian Government’s Financial Claims Scheme (FCS) protects people’s deposits in the unlikely event that an ADI, including a RADI, fails. Under the FCS, deposits are protected up to a limit of $250,000 for each account holder at each ADI that is incorporated in Australia and authorised by APRA.

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by APRA. In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the FCS within seven calendar days.

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