APRA monitors in1Bank return of deposits
The Australian Prudential Regulation Authority (APRA) notes today’s announcement by in1Bank Limited (in1Bank) that it intends to return all funds to depositors and relinquish its licence to operate as an authorised deposit-taking institution (ADI).
The decision to relinquish its ADI licence has been taken by in1Bank.
APRA will monitor the return of all deposits to in1Bank depositors in an orderly and timely manner. During the return of deposit process, in1Bank’s depositors remain protected by the Financial Claims Scheme (FCS).
Customers with questions about deposits or accounts should contact in1Bank directly.
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