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Support Articles
What is a bank guarantee?
It's an unconditional undertaking given by the bank on behalf of its customer to pay the beneficiary the amount guaranteed on written demand. Available for all commercial leases, Avenue’s bank guarantee is designed to be simple and secure.
Things you need to know as a beneficiary
Landlords/Beneficiaries can make full or partial claims online by completing our Digital Claim Form, or offline by emailing or posting a completed Avenue bank guarantee claim form. Alternatively, you can also make a claim by submitting a letter of demand.
How to authenticate your bank guarantee
Avenue Bank has made it easier and safer for beneficiaries to verify the authenticity of their Avenue Bank Guarantee. With our Authenticate your BG service confirm in minutes whether your bank guarantee is genuine, active status and face value.
Frequently Asked Questions
Avenue’s bank guarantee is used to secure commercial leases. This means that, rather than paying a bond to the landlord, you provide the landlord with a bank guarantee. Interested in applying? Check what you need to apply
Yes, Avenue’s bank guarantee is 100% cash secured. This means that if you need a $100,000 bank guarantee, you’ll need to deposit $100,000 into a term deposit with us as security.
Your bank guarantee can be issued in as little as 24 hours. Avenue’s bank guarantee application only takes a few minutes to complete. Once we’ve verified your identity and received your security deposit, we’ll issue you with your bank guarantee.
Yes. You can replace your existing bank guarantee with an Avenue Bank guarantee.
Yes, provided we receive clear instructions from the landlord and the tenant, a bank guarantee can be cancelled or modified.
Suitable for companies, sole traders, corporate trustees and partnerships. Your business must have an active ABN (or ACN for corporate trustees).
Ready to get started? Check what you need to apply.
The funds are held in an Avenue term deposit account and earns interest. They are used as security for the life of the bank guarantee.
We charge you a competitive guarantee fee and pay you interest on your security deposit. All fees and charges which apply to your Avenue Bank guarantee are set out in your schedule as part of your agreement with us.
A few things need to be completed.
Apply – You’ll need to submit an application form and verify your identity with us. Depending on your circumstances we may need some additional details. We’ll be in touch if anything comes up.
Sign – Once we’ve approved your application, we’ll send out your contract package for you to review and sign.
Deposit – You’ll then need to send us your security deposit. Once this is in place, we’ll issue your bank guarantee straight away
The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection to deposit-holders with banks, building societies and credit unions that are regulated by the Australian Prudential Regulation Authority (APRA), in the unlikely event that one of these financial institutions fails. The FCS is a government backed safety net for deposits of up to $250,000 per account holder per bank, building society, credit union. The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by APRA.
The FCS limit of $250,000 applies to the sum of an account holder's deposit per bank. All deposits held by an account holder with a single banking institution must be added together towards the $250,000 FCS limit, and this includes accounts with any other banking businesses that the licensed banking institution operates under a different trading name.
Information on the FCS is available on the FCS website – www.fcs.gov.au
Any questions?
We’re happy to help. Call us on 1300 283 265Mon to Fri | 9am to 5pm (AEST/AEDT)
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All applications are subject to eligibility and assessment.
Avenue Bank Ltd ABN 24 628 073 085, AFSL 520239, is authorised by the Australian Prudential Regulation Authority (APRA) to operate an Authorised Deposit-taking Institution. This information is of a general nature only and does not take into account your objectives, financial situation or needs. You should seek independent financial advice and read the relevant terms and conditions and relevant product documents prior to making a decision.
Avenue Bank acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.