The Corporation will offset the balance on a deposit account, including any uninsured portion, against a loan if the loan and deposit are held by the same person or persons.
Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- What is the current insured limit?
- 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: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$200,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
