Your deposits are protected
Who protects your deposits if your financial institution fails?
In the rare case of a financial institution failure, you won’t lose your deposits protected by the Canada Deposit Insurance Corporation (CDIC) or the Autorité des marchés financiers (AMF). That’s reassuring!
You can rest assured that CDIC and the AMF protect your eligible deposits in most financial institutions.
CDIC covers your eligible deposits in federal institutions, like banks.
Learn more about CDIC’s protection
The AMF covers your eligible deposits in provincial institutions, like credit unions.
Learn more about AMF’s protectionLearn more about deposit protection
Learn more about deposit protection offered by CDIC and the AMF.
AMF
Good to know
Who is protected by deposit insurance?
Deposit insurance protects depositors such as individuals or businesses with eligible deposits.
Do I need to register for coverage?
No. Protection is automatic.
Do I have to pay for it?
No. It’s free.
What qualifies as an eligible deposit?
Most commonly, these are deposits in chequing or savings accounts, term deposits and guaranteed investment certificates (GICs).
To be sure that your deposit is eligible, please visit the CDIC and AMF websites.
How much coverage do I get?
Your deposits are protected to a maximum of $100,000 per deposit category, per institution.
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