Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Are any other cash liabilities of financial institutions covered?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Placing funds in different types of deposits such as CDs, Chequing, Savings with the same member institution would increase insurance coverage. - Fact: Deposits held by the same person in the same member institution in the form of CD’s, Chequing and Savings accounts are added together and insured up to a maximum of TT$200,000.
