Fact: Deposit insurance is ONLY activated upon closure of a member institution.
Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- How does a depositor establish an insurance claim?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is 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$200,000.
