Cdic Insurance: Is Your Trust Covered?

Peoples Trust Company (PTC) is a member of the Canada Deposit Insurance Corporation (CDIC). This means that certain products offered through Deposit Services are eligible for CDIC insurance coverage. For example, high-interest savings accounts, prepaid card programs, and GIC accounts are eligible for CDIC insurance. Peoples Bank, which is part of the Peoples Group, also offers CDIC-insured accounts.

Peoples Trust Company is a member of the Canadian Deposit Insurance Corporation (CDIC)

The CDIC insures eligible deposits of up to $100,000 per category, per depositor, and Peoples Trust Company's membership of the CDIC extends to its products offered through Deposit Services. This includes high-interest savings accounts, which offer competitive interest rates and are eligible for CDIC insurance.

The CDIC insurance eligibility also extends to certain prepaid card products, including general-purpose reloadable prepaid cards and payroll cards. These cards are held at PTC, a CDIC member institution, and are eligible for CDIC deposit protection.

In addition to its membership in the CDIC, Peoples Trust Company also prioritises the security of its customers' information and funds. They employ multiple security measures, such as encryption, firewalls, and continuous monitoring of their security systems, to ensure the safety and confidentiality of their customers' data.

Overall, Peoples Trust Company's membership in the CDIC, coupled with their focus on security, provides customers with peace of mind and confidence in the safety of their deposits.

Peoples Trust's high-interest savings accounts are CDIC-insured

Peoples Trust's high-interest savings accounts are eligible for deposit insurance provided by the Canada Deposit Insurance Corporation (CDIC). This means that your deposits are protected and insured by the CDIC, giving you peace of mind and confidence in your investments.

The CDIC insurance eligibility applies to both the TFSA and e-Savings high-interest accounts offered by Peoples Trust. These accounts differ in their tax treatment and contribution limits but share the benefit of CDIC insurance coverage. Peoples Trust's high-interest savings accounts also offer competitive interest rates, providing an attractive option for those looking to grow their savings.

In addition to high-interest savings accounts, Peoples Trust also offers Guaranteed Investment Certificates (GICs) that are eligible for CDIC insurance. These GICs have a minimum deposit of $1,000 and provide a guaranteed rate of return with terms ranging from 30 days to 5 years. Peoples Trust's GICs are a secure and safe investment option, further enhanced by their CDIC eligibility.

Peoples Trust is committed to providing its clients with peace of mind and security. As a member of the CDIC, Peoples Trust ensures that your deposits are protected and insured. To calculate your specific CDIC coverage eligibility, you can use the CDIC calculator available on the Peoples Trust website.

By choosing Peoples Trust for your savings and investment needs, you can rest assured that your funds are secure and protected by CDIC insurance. With competitive interest rates and a focus on customer satisfaction, Peoples Trust is an excellent choice for those seeking to maximize their savings and investments while benefiting from the added security of CDIC insurance coverage.

Peoples Trust's GIC accounts are CDIC-insured

Peoples Trust Company is a member of the Canada Deposit Insurance Corporation (CDIC). The company's high-interest savings accounts are eligible for CDIC insurance, and so are its GIC accounts.

Peoples Trust offers three types of GIC accounts: a non-registered GIC account, a registered Tax-Free GIC account, and a registered RRSP GIC account. The minimum deposit for GICs is $1,000, which is standard at most financial institutions. Peoples Trust does not charge any setup, membership, service, or transfer fees for its GIC accounts.

GICs, or Guaranteed Investment Certificates, are a safe investment option. They offer a guaranteed rate of return, and interest rates do not change after you invest. GICs can be short-term investments of 30-364 days or long-term investments of 1-5 years.

Peoples Trust's GIC accounts are eligible for deposit insurance offered by the CDIC. This means that your deposits are protected, giving you peace of mind. To calculate your CDIC coverage eligibility, you can use the CDIC calculator on the Peoples Trust website.

In addition to GIC accounts, Peoples Trust also offers other financial products that are eligible for CDIC insurance, such as prepaid cards and high-interest savings accounts.

Peoples Trust's prepaid card products are eligible for CDIC insurance

Peoples Trust Company (PTC), part of the Peoples Group, has confirmed that its prepaid card products are eligible for Canada Deposit Insurance Corporation (CDIC) insurance. This means that funds loaded onto eligible prepaid card programs, such as Payroll cards, are protected by CDIC. This is the first time that PTC has been able to offer this benefit to its issuing clients.

The CDIC deposit insurance protection covers eligible deposits up to $100,000 per category, per depositor. These eligible deposits are combined with the depositor's other eligible deposits held at PTC. This provides additional peace of mind for cardholders, as they know their funds are insured, increasing their confidence in using PTC's programs.

The eligibility of Peoples Trust's prepaid card products for CDIC insurance is a result of the company's innovative solutions in the prepaid card space. This development also aligns with the shifting financial services landscape in Canada, where more consumers are turning to FinTechs and banking challengers. By offering CDIC deposit insurance protection, PTC enhances the value proposition of these alternative service providers.

In addition to its prepaid card offerings, Peoples Trust also provides high-interest savings accounts and guaranteed investment certificates (GICs), which are also eligible for CDIC insurance. These financial products offer competitive interest rates and the security of deposit insurance, making Peoples Trust a compelling option for individuals seeking peace of mind and strong earning power for their savings.

Peoples Trust's high-interest accounts are eligible for CDIC insurance

Peoples Trust's high-interest accounts are eligible for insurance from the Canada Deposit Insurance Corporation (CDIC). This means that deposits in these accounts are protected by CDIC insurance.

The CDIC is a Canadian federal Crown corporation that provides deposit insurance to eligible depositors, including consumers and small businesses. It was established in 1967 to maintain public confidence in the financial system and protect depositors in member financial institutions against losses caused by the failure of a member institution.

Peoples Trust Company (PTC) is a member of the CDIC, and its high-interest accounts are eligible for CDIC insurance. This includes the Peoples Choice e-Savings account, which is a high-interest savings account with no minimum deposit, monthly fees, or bill payment options. It also includes the Tax-Free Savings Account (TFSA), which allows Canadians to save tax-free throughout their lifetime, and the Guaranteed Investment Certificate (GIC) account, which offers a guaranteed rate of return with terms ranging from 30 days to 5 years.

In addition to high-interest accounts, PTC also offers CDIC insurance eligibility for its general-purpose reloadable prepaid card products, including payroll cards. This eligibility provides cardholders with additional peace of mind, knowing that their funds are insured and protected.

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