Is the Insurance Protection increased by Placing Funds in two or more Types of Deposit Accounts in the same Participating Institution?

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• What is Pass-Through Deposit Insurance (PTDI)?

  The NDIC provides deposit insurance coverage to subscribers of Mobile Money Operators (MMOs) using the Pass-Through-Deposit-Insurance Concept. It is an arrangement where the deposit insurer extends deposit insurance coverage to Pool Accounts or Trust ...

• If a Depositor has Deposit Accounts in Different Insured Banks, will the Deposits be added together for the Purpose of Determining Insurance Coverage?

  No. The maximum insurance limit is applicable to deposits in each of the participating banks. In the case of a bank having one or more branches, the main office and all branch offices are considered as one bank. In summary, if a person has many ...

• As a Depositor, must I apply for a Deposit Insurance Cover

  No. A depositor does not need to. Under the deposit insurance system, eligible deposit accounts in insured institutions are automatically insured at no charge to any depositor.

• Would Funds Released by Federal Mortgage Bank for NHF Loans and other Poverty Alleviation Funds, Donor Funds, Deposit for Shares with PMBs/MFBs be included as Deposits when Computing the Deposit Insurance Premium?

  No. Special funds such as Donor funds or other funds that are for onward disbursement to beneficiaries are excluded from assessable deposits. The onus is on the insured institutions to ensure proper classification of such funds in their books.