Yes. Certain cash liabilities in respect of which an institution is primarily liable, such as cashier’s cheques, money orders and drafts, are treated in the same manner as a deposit and added to any other deposits held in the same right and capacity by the claimant, and insured in the aggregate to a maximum of TT$200,000.
Frequently Asked Questions
- What types of deposits are insured?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- 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.
