Thread: Are NZ Banks Insured?
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Old 08-03-2006, 03:14 AM
ExPat ExPat is offline
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Default Are NZ Banks Insured?
Thanks Taffy,

I did a little digging and found this link from the one you gave:

Bank deposit insurance and why we don't have it in New Zealand

basically, it states that the Bank of NZ DOES NOT have insurance for its deposits. In reading the crisis management page, it seems to state that in the event of a failure, the government would bail out the bank but I'm not clear on how it would do that.

There is no mention of what happens when a crack group of theives steals millions from a branch similar to what recently happened in the UK. Do depositers lose their funds?

If that's the case, I may have to invest in a vault.
Last edited by ExPat; 27-07-2008 at 01:07 AM..
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