NAB acquires Citibank Aus

Yes but have more limits on what financial products they can offer compared with an actual bank. It is my personal preference to stick with the actual banks (as Im old enough to remember when building societies and credit unions and mutuals did not have these protections). YMMV.
Ah google pointed me to Australian Unity (a Mutual) not Unity Bank (a Credit Union).

Agree if you want to borrow 80% of house value in Sydney and also get the package benefits of free points earning credit card, multiple offsets etc you need to deal with an actual Bank.

Nothing wrong with your logic, I do similar but I have my savings split across multiple banks, so that all are guaranteed deposits.

I also deliberately have multiple super accounts (but turn off insurance on all of them) so that the balance of none of them exceeds what the government guarantees.
OT but I'm genuinely concerned that I'm missing something, I don't know of gov guarantee of super, all I can find is this...
"In the case of superannuation, an ADI deposit account held by the trustee of a superannuation fund on behalf of fund members is covered under the FCS up to the limit of $250,000. However, in most cases the $250,000 FCS limit would be applied to the whole fund, not each individual member."
So only helpful for a smsf, really.
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Personally I think they will run as separate brands at least for a while.
This is not possisble, because there is no licencing agreement set up for this. See 13 pages PowerPoint
Always fun reading old posts! Personally I think it’s amazing we still have Citibank cards being sold. Yes, I know the fine print says they are really NAB cards but we all know most people read the fine print!

(In case you are wondering those posts are from Jan 2022).

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