RaboDirect loses parent guarantee 17 April 2015 4:15PM John Kavanagh Online savings bank RaboDirect has written to customers advising them that its parent, Rabobank Nederland, will no longer guarantee deposits.The guarantee has been in place since 1994 and covers RaboDirect and Rabobank Australia. It will end on April 30.Rabobank Australia Ltd (RaboDirect and Rabobank Australia) is prudentially regulated and the group exceeds its minimum regulatory capital requirement.Rabo said that Rabobank Australia Ltd had achieved a strong position in the local market and the guarantee was no longer required. It said Rabobank Group was not reducing its commitment to the local business in any other respect.Deposits with RaboDirect up to A$250,000 are covered by the Financial Claims Scheme.RaboDirect said that all current deposits would continue to be guaranteed by the parent. New deposits and new interest earned will not be covered.In the case of an account that holds guaranteed and unguaranteed deposits after April 30, all withdrawals will be deemed to be guaranteed deposit withdrawals.