The Prime Minister announced on 12 October that all deposits with Banks, Credit Unions and Building Societies are guaranteed by the Australian Government for 3 years.

Indue Ltd, an Approved Deposit Taking Institution, holds the funds in induemoney Cheq accounts, and these account holders funds are now subject to the Australian Government guarantee.

The Government guarantee applies to clients with an induemoney Cheq account with a balance up to $1 million. From 28 November 2008 balances above $1 million can be protected on payment of a fee at the rate of 1.5% of balances exceeding $1 million.