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$125,000.
Frequently Asked Questions
- When can an eligible depositor expect to receive his or her money?
- When must a depositor file a claim?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Who should file a claim if more than one person is authorised to draw on an account?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - 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.