FAQs - Managing Your Account | Rabobank AU
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FAQs - Managing Your Account

Is Rabobank covered by the Australian Government Guarantee?

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Yes, Rabobank is covered by the Australian Government Guarantee through the Government’s Financial Claims Scheme (FCS). This scheme provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.


Where can I get further information on the FCS?

Information on the FCS is available on the FCS website – www.fcs.gov.au.

How can I close an account?

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For more information about closing your account:

For Rabobank Australia loan related accounts, please contact your Rural Manager or visit a branch located on our website. You will need to provide a request in writing that is signed by all account holders and security providers. The attached form may be used to assist with this process. Once all of the information required has been received, we will close your account as soon as practicable, and generally within 6 weeks from receipt of all of the required information.

For all other Rabobank Australia accounts, please call us on 1800 025 484, or if you are overseas on (+612) 8115 2240 between the hours of MON-FRI 8 a.m. – 6 p.m. (Sydney time). You may also contact your local branch. For Deposit accounts, we will generally close the account within 5 days once all required information is received.

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