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
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- When is the Liquidator appointed?
- Can a depositor leave his/her deposit with the transferee institution?
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.
