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
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- How quickly will the Liquidator make payments on certificates?
- What is the current insured limit?
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.
