Interest will be paid on an account up to the date of closure of an institution, even if the maturity date of the account is beyond the date of closure.
Frequently Asked Questions
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- What happens to those depositors whose accounts are subject to further examination?
- How does the closing of an institution affect interest accruing on a deposit?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
Did You Know?
- Misconception: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$125,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
