Your coverage


As of April 30, 2022, CDIC protection is expanded to include Registered Education Savings Plans and Registered Disability Savings Plans. There are also new rules for deposits held in trust. These changes are part of the Government of Canada’s commitment to modernize and enhance CDIC deposit protection to reflect how Canadians bank and save.

Your coverage

Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation that protects more than $1 trillion in Canadian deposits. In the rare event a member financial institution faces failure, we step in to ensure you have continuous access to your money.

CDIC protects eligible deposits held at each of our member institutions up to a maximum of $100,000, per separately insured category. In the case of a member failure, CDIC has a wide range of resolution tools it can use to resolve member institutions, such as supporting the sale of a troubled bank to a healthy one, or, if necessary, reimbursing depositors directly. These tools help support the overall stability of Canada’s financial system.

Coverage is free and automatic: you don’t have to apply for it. If there’s a failure and your deposits are eligible for CDIC protection, you won’t have to file a claim: you will receive your protected deposits automatically.

To learn more about eligible deposits, who is a CDIC member and how coverage works, visit our Protecting Your Deposits page and check out our FAQs.

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