Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend on the values realised from disposal of the assets.
Frequently Asked Questions
- Must a claim be filed in person?
- 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?
- Who should file a claim if more than one person is authorised to draw on an account?
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.
