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I saw an announcement regarding the withdrawal of the Governments Guarantee Scheme for Large Deposits and Wholesale Funding. Are my funds safe?

April 26, 2017announcement deposits governments guarantee large saw Scheme wholesale withdrawal

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I saw an announcement regarding the withdrawal of the Governments Guarantee Scheme for Large Deposits and Wholesale Funding. Are my funds safe?

1 Answer

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The announcement 7 February 2010 does not affect the deposit guarantee provided by the Australian Government on retail deposits of up to $1million per customer. This means ING DIRECT personal and business deposits of up to $1 million per customer will still be guaranteed by the Government until 11 October 2011.