The new deposit protection scheme still doesn't bring this country into step with the rest of the world.

The Government plans to protect up to $50,000 per bank account.

That would protect up to 40 percent of deposited funds on the remote chance that our banks collapse.

But Massey University's David Tripe told Kate Hawkesby that's well below the guarantees offered by other governments.

"If we look around the world, every other advanced country has been adopting deposit insurance schemes - and generally for much larger amounts," he says.

Tripe says it's hard for us to understand how sound our banks really are.

LISTEN TO DAVID TRIPE SPEAK WITH KATE HAWKESBY ABOVE