Frequently Asked Questions
- What does a deposit transfer involve?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
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.
