Fact: Deposit insurance is ONLY activated upon closure of a member institution.
Frequently Asked Questions
- When is deposit insurance payable?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- Who should file a claim if more than one person is authorised to draw on an account?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$200,000 for which a certificate was issued, would never be honoured by the DIC. - Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$200,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be …
