Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
Frequently Asked Questions
- Are Mutual Funds insured?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Can a depositor leave his/her deposit with the transferee institution?
Did You Know?
- Misconception: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$200,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
