FSRA is actively reviewing all DICO regulatory direction, including but not limited to forms, guidelines and FAQs.Until FSRA issues new regulatory direction, all existing regulatory direction remains in force. |
DICO automatically insures eligible Canadian deposits in non-registered accounts in more than one name (joint deposits). Couples, partners or parent/child combinations are a few examples of people who might have joint accounts.
Insured joint deposits held in non-registered accounts include savings accounts, chequing accounts, term deposits and GICs held in an Ontario credit union. To be insured, a deposit must be held in Canadian dollars.
Deposits held jointly are separately insured from deposits held in the names of an individual.
DICO insures up to $250,000 held in eligible joint deposits at an Ontario credit union. The total of all insured deposits in the same joint names is covered up to $250,000. Joint deposits with different joint owners and the deposits of each owner of the joint account are separately insured.
DICO provides separate insurance for deposits held in one name, jointly in more than one name, in a trust account and unlimited coverage for registered accounts.