Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- What procedure does the DIC follow after an institution has been closed?
- Can a depositor leave his/her deposit with the transferee institution?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same 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.
