Deposits Held in More than One Name (joint deposits)


DICO automatically insures Canadian deposits in eligible accounts in more than one name (joint deposits). Married couples or partners are all examples of people who might have joint accounts.

What's covered?

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

How much is covered?

Deposits held jointly are separately insured from deposits held in the names of individuals.

DICO insures up to $100,000 that is in an eligible joint deposit at a DICO insured institution. The total of all eligible deposits in the same joint names is automatically covered by DICO's insurance up to $100,000. Joint deposits with different joint owners and the deposits of each owner of the joint account are all separately insured.

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.