Are Canadian bank accounts insured?

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Are Canadian bank accounts insured?

Rounding it up

  • The CDIC, or Canada Deposit Insurance Corporation, insures eligible deposits in each of its seven categories for up to $100,000 each.

  • If the bank does fail, the CDIC will work with you and relevant authorities to get you reimbursed.

  • If you have more than $100,000 in one of the eligible categories, you should consider putting that excess elsewhere.

5 min read

Dan Bucherer
#insurance#CDIC#bank#bank accounts

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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