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Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- What procedure does the DIC follow after an institution has been closed?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- If a depositor has more than $125,000 (the current insured limit) in a failed institution and is paid $125,000 by the DIC, what happens to the amount in excess of $125,000?
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$125,000.