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$125,000.
Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- What is the current insured limit?
- If a depositor has more than $125,000 (the current insured limit) in a failed institution and is paid $125,000 by the DIC, what happens to the amount in excess of $125,000?
- When can an eligible depositor expect to receive his or her money?
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$125,000 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 …