Bank accounts and "cash" investments [Was: How safe is BankWest?]

In article
<760e0791-5cb5-43df-80ca-64699bc16517@[EMAIL PROTECTED]
>,
"phil_herring@[EMAIL PROTECTED]
" <phil_herring@[EMAIL PROTECTED]
> wrote:
>On May 17, 12:45 pm, "Someone Else" <bogusn...@[EMAIL PROTECTED]
> wrote:
>> They are offering 8.25% on their internet account (until Jan 2009). 
Too
>> good to be true?  What are the chances of losing my money?
>
>Your money is as safe as it would be in any other Australian bank.

That's encouraging. ;-)

But, moving on...  To what extent are bank deposits "protected" in Oz?

ISTR some years ago that *savings* accounts had some sort of capital 
guarantee (by the Govt?) but you're on your own with IBTDs and other 
"investment" accounts.

Does this sort of thing still apply (if it ever did :)?

Addendum:  The Qld public service super scheme (QSuper) recently wrote 
to holders of allocated pensions to say they are very sorry but the 
Cash and Cash Plus options have performed badly lately!

I presume if you've got a few hundred million a year to invest in 
"cash" of one form or another, you can't just stick it in a bank and 
draw your 7.6% or whatever interest!  Hence the downside risk with 
"cash" investments in superannuation?

Cheers, Phred.

-- 
ppnerkDELETE@[EMAIL PROTECTED]