Deposit Compensation Scheme

The Deposit Compensation Scheme protects dosh funds up to $100,000

Dosh customer funds are held on bare trusts by dosh with major registered banks in New Zealand. From 1 July 2025, customer funds held on trust with dosh are covered by the Deposit Compensation Scheme up to $100,000. This includes funds held in your dosh Everyday, Stash, and Strive on call savings accounts.
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What is the Deposit Compensation Scheme (DCS)?

The DCS is a government scheme that is funded by deposit takers and administered by the Reserve Bank of New Zealand –Te Pūtea Matua. The DCS covers you up to $100,000 if a licensed deposit taker fails, when your money is held in DCS-protected accounts. Live from 1 July 2025, the scheme gives depositors confidence that their money is protected, adding to the stability of New Zealand’s financial system.

See https://www.rbnz.govt.nz/dcs for more information.

DCS and funds held with dosh – what does it mean for me?

Funds held on trust with dosh are DCS protected, meaning up to $100,000 of your funds are covered.
Dosh customer funds are held on bare trusts by Dosh with major registered banks in New Zealand. These banks are deposit takers covered by the scheme.

What else should I know about dosh customer funds?

Dosh customer funds are segregated from dosh corporate money, the money used to operate dosh as a company. This means the money is held in separate accounts. Dosh does not use customer money for business operations.
Dosh employs an external accountancy firm BCCA to regularly review customer money held on trust against customer balances.
Dosh does not lend our customer deposits to other customers. Dosh personal loans and home loans use partners who are lenders.
Dosh customer funds are held on individual bare trusts for each customer. Dosh maintains detailed records to clearly identify the beneficial entitlement of each customer's funds.

The information contained on this page is for information purposes only and does not constitute financial advice. We recommend you seek financial advice before making any decisions.

Frequently asked questions

I went into the RBNZ website and saw dosh was not one of the deposit taker entities covered by the scheme. How does this work?

Correct, dosh is not listed as an entity covered. Your funds with dosh are covered as we hold your funds on trust with covered deposit taking entities.

If I have deposits at the banks dosh holds the customer money, does this limit the amount I am covered?

If a bank fails, dosh as the trustee of your funds can claim up to $100,000 in relation to each customer trust, therefore for each customer.

How do I open a Strive savings account?

Download dosh from your app store. Register to open and account, then select + Open to open an account.

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Dosh is a brand of MCA Investments Limited, a registered company in New Zealand (NZBN 9429048713511), and a registered financial services provider (FSP1000801).
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Dosh is not a registered bank. However, your funds are held at a NZ registered bank.
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Dosh does not provide any financial advice or recommendations. Any information we make available to you
does not take into account your particular investment objectives, financial situation, or investment needs. None of the information we provide can be taken as investment, financial, or tax advice. If you are unsure whether or not a particular Dosh offer is right for you, you should get advice from a financial adviser.
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