Depositor Compensation Scheme
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The DCS is a government scheme that is funded by deposit takers and administered by the Reserve Bank of New Zealand –Te Pūtea Matua. The DCS covers you up to $100,000 if a licensed deposit taker fails, when your money is held in DCS-protected accounts. Live from 1 July 2025, the scheme gives depositors confidence that their money is protected, adding to the stability of New Zealand’s financial system.
See https://www.rbnz.govt.nz/dcs for more information.
The information contained on this page is for information purposes only and does not constitute financial advice. We recommend you seek financial advice before making any decisions.
Correct, dosh is not listed as an entity covered.
Your funds with dosh are held on trust by us with covered major registered banks that are covered by the DCS. In the unlikely event that Dosh fails, your funds are held on trust for you and cannot legally be used to pay our debts. They are protected from our general creditors.
If a bank fails, your funds will be protected under the DCS up to $100,000. As trustee, Dosh will provide the bank with the necessary information to confirm your eligible deposits and facilitate a claim under the DCS.
If a bank fails, dosh as the trustee of your funds can claim up to $100,000 in relation to each customer trust, therefore for each customer.
Download dosh from your app store. Register to open and account, then select + Open to open an account.
Join our network of thousands of clever Kiwis spending, saving and borrowing in dosh. Get dosh today.
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