The depositor has to satisfy the DIC or transferee institution that he/she is the rightful owner of the deposit claimed. In cases of doubt, the transferee institution may refer the matter to the DIC.
Frequently Asked Questions
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Which institutions depositors are insured by the DIC?
- Who should file a claim if more than one person is authorised to draw on an account?
- What procedure does the DIC follow after an institution has been closed?
Did You Know?
- Misconception: Establishing more than one joint account in the same institution with the same names increases insurance coverage. - Fact: All joint accounts with the same names, notwithstanding alterations to the sequence of names, are added together and insured up to a maximum of TT$125,000.