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
Did You Know?
- Misconception: All financial institutions that take deposits are covered under the Deposit Insurance Fund - Fact: ONLY member institutions that are licensed under the Financial Institutions Act, 2008 are covered under the Deposit Insurance Fund. This legislation provides for the regulation of commercial banks and other institutions engaged in the business of banking and business of a financial nature.
