The Corporation will offset the balance on a deposit account, including any uninsured portion, against a loan if the loan and deposit are held by the same person or persons.
Frequently Asked Questions
- When is deposit insurance payable?
- What happens to those depositors whose accounts are subject to further examination?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
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$200,000 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 …
