The DIC will notify depositors of the transfer of deposits and of the place and time that the deposits can be withdrawn from the transferee institution.
Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- What does a deposit transfer involve?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
Did You Know?
- Misconception: Placing funds in different types of deposits such as CDs, Chequing, Savings with the same member institution would increase insurance coverage. - 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.
