7:58am
Auckland
5:58am
Sydney
5:58am
Melbourne
5:28am
Adelaide
3:58am
Perth
8:58pm
London
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The Commonwealth Bank of Australia is a member of the Financial Services Compensation Scheme (FSCS) established under the Financial Services and Markets Act 2000. In respect of deposits with an office of the bank in the UK, payments under the scheme are limited to 100% of the first £35,000* per person (for claims against firms declared in default).
* The actual level of compensation you receive will depend on the basis of your claim. FSCS can only pay compensation for financial loss. Compensation limits are per person (per firm and type of claim).
Most depositors, including individuals and small firms, are covered and deposits denominated in all currencies are treated alike. Please note that the scheme does not apply to deposits held in Australian dollars, which are held with a branch of the bank in Australia. Deposits made with Commonwealth Bank offices overseas or with ASB Bank are not covered by the Financial Services Compensation Scheme. Commonwealth Bank complies with the Banking Code, a copy of which is available from the British Bankers Association.
Further details of the UK compensation scheme are available on request.
It should also be noted that in the unlikely event of the Bank's insolvency, assets available are first used to meet deposit liabilities in Australia in preference to meeting deposit liabilities held elsewhere, including the UK, where depositors may receive a lower pay-out.
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Where relevant, unless otherwise noted, all data is sourced from Australian Bureau of Statistics material. The ABS material used in this report includes ABS catalogue number, name of publication, date of publication. www.abs.gov.au
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