Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
Frequently Asked Questions
- What does a deposit transfer involve?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- How does the closing of an institution affect interest accruing on a deposit?
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.”
