No.
Frequently Asked Questions
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Does the borrower’s obligations to the institution continue after the institution is closed?
Did You Know?
- Misconception: The Deposit Insurance Corporation (DIC) is empowered to close a member institution. - Fact: A member institution licensed under the Financial Institutions Act, 2008 can only be “closed by or with the approval of The Central Bank of Trinidad and Tobago as a result of financial difficulties.”
