Funny things can happen in times of financial uncertainty or when a financial institution for example starts to run into some trouble.
If you're unaware of what a "bank bail in" is, you might find this to be interesting reading.
The following link is from the (I'm fairly certain) gov agency responsible for policing bank bail in laws.
To find out whether your deposits are protected under the Financial Claims Scheme (FCS), choose from the three options below.
www.apra.gov.au
It clearly states in the first paragraph of that page that regardless of what you may think you know about these laws, you should check with your financial institution to see how their policies on any given account align with the "recommendations" of APRA for the Financial Claims Scheme. Here it is below.
Please note: The information provided through these questions will only give you a general indication as to whether your accounts with a bank, building society or credit union are likely to be protected under the Financial Claims Scheme. This is not intended to be your sole source of information when determining whether your accounts are covered under the FCS. Account holders are strongly advised to contact their particular banking institution for information on whether their specific accounts are protected under the FCS.
By using this deposit checker you have read and accepted the full terms and conditions.
I have obtained in writing from any financial institution that I do business with, their own fact sheets about this and if you hav'nt you probably should. cheers.
