A claim must be filed by a person authorised to make withdrawals from the account. For example, a claim for deposit insurance on an account where either of two parties was authorised to sign for withdrawals may be made by either party. If two signatures were required to make withdrawals, both signatures will be required on the claim for deposit insurance.
Frequently Asked Questions
- What does a deposit transfer involve?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- When is deposit insurance payable?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
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.
