How is my money protected?
Revolut Bank Australia is an Authorised Deposit-taking Institution (ADI). This means your deposits are protected by the Australian Government’s Financial Claims Scheme (FCS) up to AUD 250,000 per eligible entity.
The FCS is an Australian Government scheme which protects deposit-holders with Australian banks, building societies and credit unions, and general insurance policyholders and claimants, in the unlikely event that one of these financial institutions fails.
The FCS protects deposits up to $250,000 per account holder. This applies to any bank, building society, credit union, or other authorised deposit-taking institution (ADI) in Australia. It's authorised by the Australian Prudential Regulation Authority (APRA).
How do I find out more about the FCS?
Read this FAQ for more details on the Financial Claims Scheme, or read this article for more information on how the FCS limit is applied.
Information on the FCS is also available on the FCS website.