in1bank has decided to discontinue its banking business. As part of this process, in1bank will be returning its customers deposits and will effectively hand back its ADI licence to the prudential regulator (APRA) once all deposits are returned to customers.

We would like to assure you that customer funds are completely safe, and customers continue to have access to them. in1bank customers must check that the Alternate Bank Account showing in their app is the right account they would like their funds transferred to. Customers need to confirm to us that their alternative bank account details are accurate. Please respond to an email we have sent you with your alternate bank account details, and confirm that these details are accurate. From 23rd January 2026 9am AEDT, once you have confirmed this is the right account, we will transfer any remaining balance in your in1account to your confirmed Alternate Bank Account and close your in1bank account. You may also transfer your funds in your app yourself. Please note that the in1bank app will no longer be in service, effective at 5pm AEDT on 5th February 2026.

As an Australian incorporated Authorised Deposit-taking Institution (ADI), certain deposits placed with in1bank are covered up to a maximum of $250,000 in aggregate, for each account-holder under the government backed Financial Claims scheme (FCS) should the Government declare the FCS applies to a particular ADI. If activated this scheme provides protection and prompt access to funds to depositors with ADIs in the unlikely event that the ADI cannot meet its financial obligations.

The key steps and timeline will be as follows:

Day of Return of Deposits announcement 22nd January 2026. Return of Deposits (ROD) period 23rd January – 5th February. The process will involve closure and transferring all Transaction Accounts (TA) funds to external nominated accounts with accrued interest. Term Deposits (TD) will be terminated with full payment of interest to maturity and transferred to TA accounts. The closure and transfer of TA accounts is expected to be completed within the following 14 days:

• 23rd January 2026 to 5th February 2026: Transfer of funds to alternate bank accounts.
• 5th February 2026: Issuance of final statements and closure of accounts.
• 5th February 2026: Payment facilities no longer working from this date.

Customers withoffset accounts linked to their loan accounts, will have the option to transfer the offset balances to their loan accounts to reduce their loan balance. Alternatively, you can transfer the balances in the offset accounts to your accounts with other ADIs.