Frequently Asked Questions
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- 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?
- When can an eligible depositor expect to receive his or her money?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$200,000 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$200,000. 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 …
