Updated: 20 January 2021

On 15 December 2020, Xinja Bank announced its plans to withdraw its Transaction and Savings account products and return its ADI licence.

The Australian Prudential Regulation Authority (APRA) said it would closely monitor Xinja’s return of deposits to ensure that funds are returned in an orderly and timely manner.

APRA also noted that Xinja’s depositors remain protected by the Financial Claims Scheme (FCS). The FCS is a government-backed safety net for deposits of up to $250,000 per account holder.

Xinja ROD process complete

On 16 January 2020, Xinja Bank announced it had successfully completed the Return of Deposits (ROD) process, following the transfer of the remaining tail of deposits to National Australia Bank (NAB). 

Xinja notes that it has returned all but a small percentage of deposits to its customers. The transfer of tail to NAB completes the process. 

Ex-Xinja customers will be provided with their new NAB account details by NAB and are free to access their deposits. 

Xinja customers whose deposits have been transferred to NAB can elect to leave their funds there or transfer them to another bank of their choice.
 
Customers seeking more information about their deposits or the transfer of deposits process should contact National Australia Bank.

Lodging a complaint

If you wish to lodge a complaint about the Return of Deposits process, you should first direct your complaint in writing to Xinja.
 
Xinja can be contacted through their website or via telephone on 1800 946 527.

If you are not satisfied with the outcome, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

Sorry, we’re currently offline.

Would you like to end your chat with AFCA?

Please bear in mind that your conversation will not be saved.

AFCA chat service terms and conditions

Welcome to our live chat help service.

Please be advised we cannot provide you with financial or legal advice. However, we may be able to refer you to a community legal centre or financial counselling service if you need help.

Our live chat is operated by Genesys Cloud on behalf of AFCA. Any personal information provided in this chat will be captured by both organisations in accordance with their privacy policies, available at www.afca.org.au/privacy and www.genesys.com/company/legal/privacy-policy

We provide consumers and small businesses with fair, free and independent dispute resolution for financial complaints.

Please enter your details to start your chat with an AFCA representative.

Please enter your name
Please enter a valid email address
Please enter a valid phone number

We provide consumers and small businesses with fair, free and independent dispute resolution for financial complaints.

Welcome to our live chat help service.

An agent should be with you shortly.