Fact: Deposits held by the same person in the same member institution in the form of CD’s, Chequing and Savings accounts are added together and insured up to a maximum of TT$200,000.
Frequently Asked Questions
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- Are any other cash liabilities of financial institutions covered?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
