DEPOSITOR COMPENSATION SCHEME
The Depositor Compensation Scheme is a government scheme funded by deposit takers and administered by the Reserve Bank of New Zealand (RBNZ).
The scheme covers each depositor up to $100,000 per deposit taker in the event of a failure, when money is held in DCS-protected accounts.
The DCS came into effect on 1 July 2025.
Are you covered?
All of the investments offered by GBF will be covered up to the amount of $100,000 per individual depositor under the DCS.
You don't need to do anything to be involved – from 1 July, your deposit will be protected up to that amount.
There's no cost to be involved, the scheme is funded by deposit takers like GBF. And there are no extra forms to fill out – all eligible deposits are automatically covered.
Why has the DCS been established?
The DCS is designed to add another layer of stability to the New Zealand financial system and give local savers and investors the confidence that their money is protected.
It also brings New Zealand's system into line with many other banking systems around the world.
You can read more about the importance of the DCS and some of its likely impacts – especially on interest rates – in this news item and report by GBF director and Professor of Banking, Dr David Tripe.
Understanding the scheme
The RBNZ has produced the following guide to provide more information about the DCS.
They will also be providing more resources about the scheme over the coming weeks, so please check back for more information.
Or visit dcs.govt.nz
To talk to us about your deposits, and discuss any questions you might have about the DCS, please get in touch on 0800 55 3000.