Deposits Held in One Name


DICO automatically insures Canadian deposits in eligible accounts in the name of each depositor - for example, a person, a business or other organization.

What's covered?

Deposits held in one name that are eligible for DICO insurance include savings accounts, chequing accounts, term deposits or GICs. Eligible deposits are also money orders, certified cheques and drafts that are issued by a DICO insured institution. To be insured, a deposit must be held in Canadian dollars at a DICO insured institution.

How much is covered?

DICO insures up to $100,000 in the name of a person, organization or business at a DICO insured institution. The total of all eligible deposits in one name is automatically covered by DICO's insurance up to $100,000.

More than $100,000 in savings?

DICO provides separate insurance for deposits held in one name, jointly in more than one name, in a trust account and in registered savings plans.