Rabobank and its wealth management arm RaboPlus will go it alone in Australia and not participate in the government deposit guarantee scheme for depositors with more than one million dollars.The paid component of the insurance scheme, introduced last month, comes into force from today. There is no premium on deposits of up to $1 million.RaboPlus general manager Greg McAweeney said yesterday that the fee and the guarantee could not be justified for Rabo."We are not offering the guarantee on deposits over one million dollars because we don't feel that there is a need to do it."We are a triple A rated institution and we think that it is unnecessary and can't be justified. Our customers are happy with that position so we'll see how we go from there."