Frequently Asked Questions
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- Are any other cash liabilities of financial institutions covered?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
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.
