Australia has one of the strongest banking regulatory systems in the world – all Banks (including Police Bank), Building Societies and Credit Unions meet exceptionally high standards on capital, liquidity, risk management and governance as set down by the regulator, APRA.

Under the Banking Act deposits in all Australia’s Banks, Building Societies and Credit Unions are safe.

Members requiring any further details should contact the Police Banks Contact Centre on 131 728

Frequently Asked Questions

  1. What is the Financial Claims Scheme?

    The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (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 the Australian Prudential Regulation Authority (APRA). In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

  2. How is the FCS limit applied?

    The FCS limit of $250,000 applies to the sum of an account holder’s deposits under the one banking license. Therefore, all deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licenced banking institution may operate under a different trading name. All Police Bank Ltd (including Border Bank) deposit accounts are included under the scheme.

  3. Where can I get further information on the FCS?

    Information on the FCS is available on the FCS website –