Money magazine Comments - Ask Paul: I have $300k in the bank, but only $250k is guaranteed Tom and his wife have $300,000 in an offset account, but only $250,000 at an authorised deposit taking institution is guaranteed by the Australian government. So is the cash at risk? https://www.moneymag.com.au/feed/latest?story=141497257 Sun, 29 Apr 2018 19:43:11 +1000 Sun, 29 Apr 2018 19:43:11 +1000 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Ask Paul: I have $300k in the bank, but only $250k is guaranteed https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Peter Rowe ()

So is the $250'000 government guarantee limited to 250,000 overall deposits with authorised institutions or if a depositor spreads deposits over a number of authorised institutions is each deposit in each bank guaranteed up to 250'000

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]]> Peter Rowe () Sun, 29 Apr 2018 19:43:11 +1000 Comment by Money ()

The rule is $250,000 per person per bank, regardless of the number of accounts.

- Money team

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]]> Money () Mon, 30 Apr 2018 09:36:33 +1000 Comment by Stephen Draper ()

Offset Account Question:

Should we be putting above $250k (gov guarantee) into the offset account? And have the PPOR fully offset with one account?

What's the Money Simple plan of attack in this scenario?

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]]> Stephen Draper () Tue, 12 May 2020 21:41:54 +1000