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Canada Deposit Insurance Corporation (CDIC) - Protecting Your Deposits

What is the CDIC?

TD Bank and its Canadian deposit-issuing subsidiaries are proud members of the Canada Deposit Insurance Corporation (CDIC). CDIC is a federal crown corporation – a part of the government of Canada – created by Parliament in 1967 to protect money on deposit in the event a member institution becomes insolvent. CDIC protects eligible deposits to a maximum of $100,000 per depositor and per insured category.

Coverage is free and automatic; customers do not have to apply for it. If a member institution failed, CDIC would reimburse insured deposits (including interest) up to $100,000 per insured category.

  • To be eligible for deposit insurance, a deposit must be:

    • payable in Canada
    • in Canadian, US, or foreign currency

  • Eligible deposits include:

    • Chequing & Savings Accounts
    • Term deposits/ Guaranteed Investment Certificates (GICs)
    • Money orders, Certified Cheques & Bank Drafts issued by a CDIC member institution
    • Certain In-transit Payments from a CDIC member institutions such as payroll and Interac e-Transfers

  • The following TD Bank Group entities are CDIC member institutions:

    • The Toronto-Dominion Bank
    • TD Mortgage Corporation
    • TD Pacific Mortgage Corporation
    • The Canada Trust Company

Deposit Insurance

Your deposits may be insurable by the Canada Deposit Insurance Corporation.

Further Information about CDIC