Money Orders, Certified Cheques, Travellers’ Cheques and Bank Drafts

CDIC insures deposits in money orders, certified cheques, travellers' cheques and bank drafts that are held in Canadian dollars and that are issued by a CDIC member.

How much is insured by CDIC?

CDIC insures from $1 to $100,000. We calculate your savings by combining the amounts in:

• savings and chequing accounts
• GICs and other term deposits with an original date to maturity of 5 years or less
• money orders, certified cheques, travellers’ cheques and bank drafts issued by CDIC members
• debentures issued by loan companies

For example…

If you have the following in your name at a CDIC member:

• $2,000 in a chequing account
• $1,000 in a savings account
• $500 in a money order payable to you and not yet cashed

You have $3,500 insured by CDIC in case your bank fails, because all of the above products are insured by CDIC.

CDIC also insures other types of deposits from $1 to $100,000. Find out more about how CDIC calculates insured deposits.

CDIC covers more!

Click on any of the following to see what else CDIC covers: savings held in trust, savings held in an RRSP, savings held in a RRIF, savings held for paying realty taxes on mortgage payments. CDIC also insures savings held in more than one name (joint deposits).