On 7 February 2010, the Federal Government announced the withdrawal of its Guarantee Scheme for
Large Deposits and Wholesale Funding (“Scheme”) on 31 March 2010. This is the Scheme which allowed
Suncorp Bank to offer an Optional Guarantee for total deposits with Suncorp Bank in excess of $1 million.
As a result of the Government’s decision, Suncorp Bank stopped offering an optional guarantee arrangement
for balances over $1 million from 19 February 2010. If you did not enter an optional guarantee arrangements
with us by that time the Scheme is no longer of any relevance (unless you had a Statutory Trust Account).
All customers who have an Optional Guarantee with Suncorp Bank, or a Statutory Trust Account, will be
contacted by 31 March 2010 explaining the effect of the Government’s withdrawal of the Scheme on their
arrangements.
If you have any questions regarding Suncorp Bank’s Optional Guarantee arrangements under the Scheme
please contact us on 13 11 55. We’ll be happy to help.
