Every term deposit or investment is always made in your name, owned by you and held with your selected bank.
Cashwerkz is the facilitator to assist you with the application process and the ongoing management of your investment. Your term deposit cannot be transferred to anyone else.
In Australia, term deposits available through Cashwerkz may be protected under the Government’s Bank Deposit Guarantee, also commonly referred to as the Financial Claims Scheme (FCS). You should refer to the relevant Product Disclosure Statement for more information regarding the FCS.
The Australian Government guarantees deposits up to a cap of $250,000 per account-holder per Financial Institution.
Information about the Financial Claims Scheme (FCS) can be obtained from the APRA website at www.apra.gov.au or by calling the APRA hotline on 1300 558 849.