Frequently Asked Questions about the Financial Claims Scheme
The following frequently asked questions relate to the management of the Financial Claims Scheme.
- Coverage of the FCS
- Banking and the FCS
- General insurance and the FCS
- Activation, payments and the administration of the FCS
How is the Financial Claims Scheme activated?
The Financial Claims Scheme (FCS) can only be activated by the Australian Government, and this will only be done in the unlikely event that a bank, building society or credit union has failed and can no longer meet its financial obligations.