Just had an exchange across the counter with a seemingly informed bank officer. 1/ current government deposit guarantee she said is $150k 2/ it only applies to term deposits If you have a savings account, or cash management account like online saver, forget it. 3/ She was unblinking and didnt rush to reassure me when i mentioned the possibilty of bail-ins like Cyprus, and that bank depositors here might be regarded as unsecured creditors. I felt that she was agreeing that this is the case. Ok, so just one experienced and unhesitating bank officer in a country town CBA branch.