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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

    These entities operate under the trade name TD Canada Trust

Deposit Insurance

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

Further Information about CDIC