The FCS limit of $250,000 applies irrespective of the source or purpose of the funds, or the period for which the funds were intended to be held in an account. For amounts above $250,000, no additional protection is offered under the FCS.
Yes, if each institution is licenced by APRA and if the deposits are held in accounts protected under the FCS. To see the list of banking institutions licenced by APRA go to the bank, building society or credit union page, which also includes other banking businesses that these licenced institutions operate under different trading names.
Under the FCS, deposits are protected up to a limit of $250,000 for each account holder at each bank, building society or credit union that is incorporated in Australia.