Is Tyro a bank?

Yes, Tyro is a bank.

Tyro is an Australian Deposit-taking Institution (ADI) that holds an authority to carry on banking business in Australia.
As an ADI, depositor funds are protected under the Financial Claims Scheme (FCS), which guarantees repayment of depositor funds up to $250,000 per account holder at an ADI in the unlikely event of their insolvency.

For more information visit ASIC’s MoneySmart website or http://www.fcs.gov.au.

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