Savings & Retirement
Bank Turmoil Highlights This Nation’s Lack of Deposit Insurance
After the implosion of three US lenders, Kiwis are squirming over the lack of deposit protection for savers.
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Is my money safe?
That’s the question reverberating around the globe, as turmoil grips the financial system in the aftermath of the collapse of three US lenders. Deposit insurance means the answer is usually yes — but not in New Zealand.