The DIC may pay depositors either by transfer to a financial institution with instructions to effect payment to depositors on its behalf, or directly by means of cheques up to the insured limit which will be collected at the DIC’s offices.
Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- How quickly will the Liquidator make payments on certificates?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Can a depositor leave his/her deposit with the transferee institution?
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$125,000.