Quote:
Originally Posted by glend
Once again folks:
The Australian Government has guaranteed deposits up to $250,000 in Authorised Deposit-taking Institutions (ADIs) such as your bank, building society or credit union. This means that this money is guaranteed if anything happens to the ADI. The cap applies per person and per ADI.
So if your bank collapses, the federal government underwriters your deposit.
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Maybe you should see video of Adam Smith - In the Interests of the People is the name of channel on Utube.
Regards