CDIC – Canada Deposit Insurance Corporation

Is your money protected by the CDIC? Keep reading  below to find out how to keep your hard earned money safe.

Tiền của bạn có được bảo vệ vởi CDIC không? Hãy đọc để tìm hiểu làm thế nào để gởi tiền của bạn cho an toàn. Vietnamese posting here.


The CDIC insures eligible deposits in banks, trust companies and loan companies against loss in case of member failure, BUT only to a maximum of $100,000 (principal and interest) per depositor, per category listed below:

  1. In one name: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  2. In more than one name: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  3. In Trust: Savings/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  4. In RRSPs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  5. In RRIFs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  6. In TFSAs: Eligible deposits Savings Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less
  7. Eligible deposits for realty taxes on mortgages: Savings Accounts/Chequing Accounts/Term Deposits (GICs) with original terms to maturity of 5 years or less

Uninsured products include:

  1. mututal funds, stocks and bonds,
  2. Term Deposits (GICs) with original terms to maturity of 5 years +
  3. foreign currency deposits

The CDIC has a nice infographic here which lists the remainder of the uninsured products.

Please use their online calculator to make sure your hard earned money is protected! Or contact the CDIC.

 

How do you want me to organize my paper work?

“How do you want me to organize my paper work? Is it okay to stuff everything into an envelope/box?”
We can definitely sort through your paper work if you happen to stuff everything into an envelope/box but it would definitely be a lot more helpful and organized for both us and you if you could:
  1. Remember to use your corporate debit card/credit card to pay for expenses and then separate those receipts into an envelope labeled “expenses paid w/ corporate card”.
  2. Download your corporate bank/credit card in CSV format preferably, PDF is next preferable and paper is 3rd.
  3. For meals and entertainment – please note on the receipt the customer/vendor/employee that was taken out for dinner
  4. Corporate bank statements should be ordered by date
  5. Credit card statements should be ordered by date
  6. Utility bills sorted by vendor and then ordered by date
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THUT data capture technology extracts data from bank, credit card and online statements and allows for automatic bank reconciliation.
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