Group 6614

Need help call:

0800 11 22 75

Contact email:

invest@xceda.co.nz

Protect Your Savings

 

The Depositor Compensation Scheme (DCS) covers each depositor up to $100,000.

 

Coming 01 July 2025

DCS_Primary_Logo_Horz_Black_RGB

Which Xceda Deposit products are covered by the DCS?

 

 

✔ Term Deposits

Our term deposits from 6 months to 5 years are tailored to accelerate your savings goals.

Apply Now Learn more

✔ Notice Saver

Our 90 day notice saver lets you save that little bit extra – perfect for both individuals and SMEs.

Apply Now Learn More

✔ Super Saver

Earn a premium rate of interest whilst your cash is on call, ready to use whenever you need it.

Apply Now Learn more

Frequently Asked Questions

People
Xceda is a Non-Bank Deposit Taker, licensed by the Reserve Bank of New Zealand (“RBNZ”). The RBNZ oversees our operations including our deposit taking and lending activities, in conjunction with other applicable New Zealand regulatory bodies (e.g. the Financial Markets Authority and the Commerce Commission).
Xceda is required under its RBNZ licence to maintain minimum levels of regulatory capital and liquidity ratios to enhance the strength and financial stability of the institution.
Xceda uses the term deposit funds alongside our own equity to provide lending products to the public. We finance personal loans, small business loans and mortgages. The majority of our lending products are secured against real assets, with over 95% of our loans as at 31st March 2024 secured against mortgages over New Zealand property.

The Depositor Compensation Scheme (DCS) covers you up to $100,000 if your deposit taker fails, when your money is held in DCS-protected accounts. The DCS is a government scheme that is funded by deposit takers and administered by the Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ).

If a New Zealand deposit taker fails, the DCS 
provides depositors with compensation of up to $100,000. The DCS gives depositors confidence that their money is protected, adding to the stability of New Zealand’s financial system. Many other parts of the world offer similar protection to depositors.

Your money is automatically protected if it is in a DCS-covered account, such as:


• Transaction accounts
• Savings accounts
• Notice accounts
• Term deposits


From 1 July 2025, your deposit taker is required to have a list of DCS-covered deposits on their website. Check with your deposit taker if you are unsure whether your money is protected.Some depositors are not eligible for the DCS, including government agencies. Find out more at dcs.govt.nz

Some money is not protected by the DCS, 
including money held in:


• Bonds and other tradable products
• Managed investment schemes (including 
KiwiSaver and other superannuation 
schemes that are managed investment 
schemes)
• Foreign currency accounts

Speak with your deposit taker if you’re unsure whether your money is protected by the DCS.

There is no direct cost to you when you hold 
your money in DCS-protected accounts. The 
RBNZ will collect a levy from deposit takers to fund the DCS.
You don’t need to do anything to be protected by the DCS if your money is held in DCS-protected accounts. Cover automatically comes into place on 1 July 2025.

Talk to us today. Call us on 0800 11 22 75 or email invest@xceda.co.nz for more information. 

You can also visit the Reserve Bank of New Zealand website which has some great information regarding the Scheme: https://www.rbnz.govt.nz/dcs

 

 

Download the RBNZ DCS explainer brochure here

 

Deposit Compensation Coverage

Examples by Account Type

Click on a card to view the example

 
 

If you have a single account with a licensed deposit taker, your balance is protected up to $100,000.

 

Example:

Someone with $2,500 in a transaction account and no other deposits would be covered for the full $2,500.

If you hold several personal accounts (e.g. savings, transaction, term deposits) with the same institution, your total eligible deposits are combined.


Example:
A customer with $3,000 in a term deposit and $500 in a transaction account would be covered for $3,500.

 

People with a combination of personal, joint, and trustee-held deposits have each role treated separately for coverage.
 
Example:
  • One person has $500 individually and a 50% share of a $20,000 joint account = $10,500
  • Another has $6,000 in personal accounts plus their 50% joint share = $16,000
  • A trust account they both manage holds $10,000, which is also covered separately

 

A company registered as a separate legal entity is eligible for its own $100,000 protection, distinct from its shareholders or directors.

Example:
  • One individual has $15,000
  • Another has $25,000
  • Their jointly owned company has $85,000 in its account
Each of these is treated separately and fully covered within the limits.

 

For joint accounts, each person is treated as having an equal share. That share is added to any personal deposits they also hold with the same institution.

Example:
  • One partner has $550 in a personal account and a 50% share in a $20,000 joint account = $10,550
  • The other partner has $8,000 in a personal account plus their $10,000 share = $18,000

For joint deposits exceeding $100,000, each account holder’s half is protected up to $100,000 each.


Example:
Two people share a $140,000 joint term deposit. Each would be covered for $70,000.

A family trust is treated separately from any individual trustee. Coverage is up to $100,000 for the trust, in addition to any personal protection trustees may be eligible for.

Example:
  • A trustee with $3,000 personally and $115,000 held in a trust account would be covered
  • $3,000 for personal deposits
  • $100,000 for the trust (with $15,000 not covered due to the cap)

 

If you're a sole trader (not a registered company), your business and personal deposits are treated as one combined amount.

Example:
A builder with $10,000 in a business account and $5,000 in a personal savings account at the same institution would be covered for $15,000.

Talk to us today

 

Call us

 

Loans & General Enquiries:

  0800 11 22 74

  help@xceda.co.nz

 

Savings & Deposits:

  0800 11 22 75

  invest@xceda.co.nz

 

Overseas:

  +64 7 306 0273