Frequently Asked Questions
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- Who should file a claim if more than one person is authorised to draw on an account?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
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.
