Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
Frequently Asked Questions
- Does the borrower’s obligations to the institution continue after the institution is closed?
- What does a deposit transfer involve?
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$125,000 for which a certificate was issued, would never be honoured by the DIC.- Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$125,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be …