Please all , keep in mind that these FCS arrangements only apply...

Please all , keep in mind that these FCS arrangements only apply when a bank Fails.
ie. goes under.
If they can save themselves, I believe there are "bail in" provisions now available, such that a certain percentage of a customers savings (account balance) can be taken from accounts, and I mean taken, and used to bail the bank out. They may give you some "cents in the dollar" shares in a much poorer, highly diluted enterprise (themselves) as compensation, but you've done that dough, and they "move on".
Your money in the bank is not all ways your money, it seems.
Hunt around. "Australian Bank bail in laws" is a good start.

I spread my savings as smaller amounts among several institutions so that if one fails, as a smaller depositor, I'd loose less, or none at all. Eggs in baskets stuff, really.

$100K in bullion, of various fractional weights, (like change), would fit in an average coat pocket.
Storing small valuable things simply and safely has been in our nature for time immemorial.
Storage is only limited by your imagination, and may well prove safer than the bank.

If you don't entirely trust the system, then you must keep some assets out of the system.
All IMHO GLTAH.