Is bank deposit under family trust protected?

[WantToSucceed]

I'd like to know if savings and term deposits under family trust are protected by government deposit guarantee (up to $1 million per institution) ?

I know individuals are protected but I can't find if family trust and company are also protected.

 

[Player]

It's not $1 mill anymore. It's 250 K per person per bank/institution. I think it's also that amount for each entity (trust or Co) however not entirely sure. Check with your bank(s).

 

[WantToSucceed]

Thanks for info.

I'll ask the bank.
I asked people here first becaase I am not confident the bank tellers know the answer. They might give me an incorrect info.

 

[alexlee]

I'd like to know if savings and term deposits under family trust are protected by government deposit guarantee (up to $1 million per institution) ?

I know individuals are protected but I can't find if family trust and company are also protected.

What are you going to do differently if you find out family trust deposits are not guaranteed?

 

[WantToSucceed]

Leave part of the money in our accounts outside the trust.

 

[Terry_w]

http://www.guaranteescheme.gov.au