The Depositor Compensation Scheme (DCS) covers eligible depositors up to $100,000 per deposit taker in the event of a failure, when 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).
Welcome Secured Term Deposits and our Wholesale PIE Fund.
Watch this short clip to understand how the Deposit Compensation Scheme works.
Our secured term deposits from 6 months to 5 years allow you to earn better than bank rates.
A scheme where your money is pooled with other investors' money and invested solely in a NZ dollar interest-bearing deposit with Welcome. Available to wholesale investors only.
Welcome is a proud Kiwi-owned Non-bank Deposit Taker (NBDT) offering competitive secured term deposits and flexible mortgage solutions. We’re thrilled to be the first NBDT licensed by the Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) in nearly a decade.
An NBDT is a business that accepts retail deposits and provides financial services, like lending. All retail deposit takers (including banks and NBDTs) must be licensed by the RBNZ.
NBDTs must comply with prudential standards issued by the RBNZ, which include:
NBDTs are subject to the deposit takers regulatory regime under the Non-bank Deposit Takers Act 2013 and the incoming Deposit Takers Act 2023, including the Depositor Compensation Scheme (DCS), which protects up to NZ$100,000 per eligible depositor if the deposit taker fails.
NBDTs also need a conduct licence issued by the Financial Markets Authority, which Welcome has.
The Depositor Compensation Scheme (DCS) covers each depositor up to $100,000 per deposit taker in the event of a failure, when 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 licensed deposit taker fails, the DCS provides eligible depositors with compensation of up to $100,000, when their money is held in DCS-protected accounts. This 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.
Welcome is a licensed deposit taker, so the DCS covers eligible depositors up to $100,000 if Welcome fails, when your money is held with us in DCS-protected accounts. All Welcome secured deposits and our Wholesale PIE Fund are DCS-protected accounts.
The DCS is a Government scheme funded by deposit takers and administered by the Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ). For more information, see: Depositor Compensation Scheme (DCS) – Reserve Bank of New Zealand – Te Pūtea Matua.
Welcome Secured Term Deposits and our Wholesale PIE Fund.
Some money is not protected by the DCS, including money held in:
There are also some depositors who would not be eligible for a DCS payment, such as government agencies. Find out more at rbnz.govt.nz/dcs.
Depositors don’t need to do anything to be protected by the DCS if they are eligible and their money is held in DCS-protected accounts such as transaction, savings, notice, and term deposit accounts. Cover automatically came into place on 1 July 2025.
The DCS is funded by levies that the RBNZ collects from deposit takers. There is no direct cost to depositors.
Visit rbnz.govt.nz/dcs for more information.
