Government-backed protection for your funds.
As of 1 July 2025, the funds held in your Go Lend on-call account are covered by the Depositor Compensation Scheme (DCS). Here’s what that means for you.
What is the Depositor Compensation Scheme (DCS)?
The Depositor Compensation Scheme (DCS) is an initiative started by the government, and run by the Reserve Bank of New Zealand – Te Pūtea Matua. It’s designed to bring confidence to depositors, and help keep New Zealand's financial system stable.
The DCS is funded by licensed deposit takers. If your money is held in a DCS-protected account, you’re covered for up to $100,000 if a licensed deposit taker fails.
For full details, visit rbnz.govt.nz/dcs.
What does the DCS mean for your Go Lend on-call account?
Go Lend isn’t a licensed deposit taker, so we’re not covered by the DCS directly. But the funds held in your Go Lend on-call account are held on bare trust with a major New Zealand registered bank – which is covered under the scheme.
This means, in the unlikely event that the bank holding your funds fails, your on-call funds automatically qualify for DCS protection of up to $100,000 per licensed deposit taker.
A few important things to know
Your money belongs to you
Funds in your on-call account are held on bare trust for you. They are completely separate from Go Lend's own business funds and cannot be used for our corporate operations.
Cover is applied per entity
If you hold funds in separate capacities – for example, as an individual as well as through a trust or company – you could qualify for separate DCS cover for each entity.
Your questions answered
I went into the RBNZ website and saw Go Lend was not one of the deposit taker entities covered by the scheme. What does this mean?
Correct, Go Lend Limited (Go Lend) is not listed as a “licensed deposit taker” covered under the Depositor Compensation Scheme (DCS).
However, your funds invested with Go Lend are held on trust by GLG Trustees Limited (GLG) with a major registered bank (Deposit Taker) that is covered as a “licensed deposit taker” by the Depositor Compensation Scheme (DCS). In the unlikely event that Go Lend fails, your funds held by GLG with that Deposit Taker cannot legally be used to pay Go Lend’s own debts.
If the Deposit Taker fails, your funds held by GLG with the Deposit Taker will qualify for protection under the DCS up to $100,000 on a ‘per depositor basis’. As trustee, GLG will provide the Deposit Taker with the necessary information to confirm your eligible deposits and facilitate a claim under the DCS.
If I hold other separate deposits with the Deposit Taker, does this limit the amount I am covered?
This depends on whether those deposits qualify for DCS protection and how you hold these separate deposits i.e. whether they are held in your personal capacity or under another arrangement. If the Deposit Taker fails, GLG compensation is calculated across all eligible deposits you hold with the Deposit Taker on a ‘per depositor basis’ for up to $100,000.