**This is a sponsored post written by me on behalf of Canada Deposit Insurance Corporation. All opinions are my own.

The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation that was created in 1967 to provide deposit insurance for Canadians. Although a Canadian bank hasn’t failed since 1996, many Canadians are still worried about their money. I don’t blame them, if you’ve got money in a bank, you want to ensure that you’ll get it back in the rare event that they become insolvent.

That’s where CDIC comes in. Their role is to ensure Canadians get their money back in a timely manner if their bank fails. Many Canadians have some understanding of how CDIC works, but there are some changes coming later this year and in 2021 that will affect you.

To help educate you about CDIC, play the following quiz. As an added incentive, you can win a $500 Air Canada gift card if you leave a comment below. Be sure to read the contest details below before you enter. Now let’s learn about CDIC.

#1) What is the coverage limit per category at CDIC?

  • A – $50,000
  • B – $100,000
  • C – $500,000
  • D – $1,000,000

The answer is B, $100,000. CDIC protects up to $100,000 (including principal and interest) per deposit category. What that means is that you actually get additional coverage since there are 7 categories including joint accounts with a spouse, joint accounts with a parent, Tax-Free Savings Accounts and Registered Retirement Saving Plans. This is per member so if you were to spread out your accounts, you could easily get even more protection with CDIC.

#2) Are foreign currencies covered by CDIC?

  • A – Yes
  • B – No

The answer is B, No. Although foreign currencies are currently not covered by CDIC, that all changes come April 30th, 2020 when they will be protected. The same $100,000 limit per category still applies and your foreign currency must be deposited at a CDIC member. One thing to note, as of April 30th, 2020, travellers’ cheques will no longer be covered by CDIC, but who uses those anymore?

#3) How many Canadian banks have failed since CDIC was introduced?

  • A – 3
  • B – 12
  • C – 29
  • D – 43

The answer is D, 43. This may be shocking to some people since CDIC currently has 86 members, but here’s the thing, not one dollar under CDIC protection was lost to these failures. In the event a bank fails, CDIC will step in right away and reimburse your money up to 100k per eligible category.

#4) What are some types of accounts covered by CDIC?

  • A – Tax-Free Savings Accounts and Registered Retirement Saving Plans
  • B – Registered Education Savings Plans and Registered Disability Savings Plans
  • C – All of the above

The answer is C, all of the above. Eligible deposits in Tax-Free Savings Accounts and Registered Retirement Saving Plans, as well as those in Registered Education Savings Plans and Registered Disability Savings Plans that are structured as a trust, are covered.

#5) What type of investments are covered by CDIC?

  • A – Stocks
  • B – Bonds
  • C – Mutual funds
  • D – Guaranteed Investment Certificates 
  • E – All of the above

The answer is D, Guaranteed Investment Certificates (GICS). Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC. Your GICs and other term deposits with original terms to maturity of five years or less are covered. As of April 30, 2020, there will be extended coverage of eligible deposits with terms greater than 5 years.

#6) Is it easy to find out if your deposits are covered by CDIC?

  • A – Yes
  • B – No

The answer is A, Yes. When you walk into a physical branch that’s a CDIC member, they’ll have a big purple CDIC sticker displayed on their door. This purple logo is also displayed on member financial institution websites and in their banking apps. You can also check the CDIC website to see if your financial institution is a member. Note that sometimes they’re listed under their parent company. For example, Oaken Financial falls under Home Trust Company and Home Bank. CDIC also has an online estimator to help you calculate your coverage.

Contest: Win a $500 Air Canada gift card

Share what you learned about CDIC in the comments for a chance to win a $500 Air Canada gift card. Ensure your comment is made by March 23, 2020. The winner will be announced on March 25, 2020.

Check out the CDIC website to get more info about the upcoming changes to deposit insurance.

Contest terms & conditions:

  • Open to Canadians only
  • A comment must be left in the comments below
  • One entry per email
  • Contest ends March 23, 2020

Win $10,000 in travel vouchers

Now that you’ve learned a little bit about CDIC and commented for the chance to win a $500 Air Canada gift card, you’ll want to play CDIC’s Rain or Shine? Financial Challenge where $10,000 in travel vouchers are up for grabs! Head to the site now to test your financial literacy skills. While doing so, you’ll earn entries for the contest. The game is currently live and runs until March 31, 2020, but don’t wait, head there now!

 
CDIC Changes Coming

834 Comments

  1. Gabriel on February 24, 2020 at 12:23 am

    Thanks for the information about CDIC.

    • Shannon on February 24, 2020 at 9:06 am

      Great to know our deposits up to 100 grand are covered! Always noticed the purple stickers at my banks… just never REALLY knew what they were about. Good to know.

      • Sheila Archibald on February 26, 2020 at 6:42 pm

        This informative is valuable.

        • Brad on February 27, 2020 at 9:55 pm

          43 banks have failed since CDIC A was introduced. That’s crazy.

      • Sal Amander on March 1, 2020 at 6:09 pm

        all of the facts were very informative!

        • Yu Xia on March 5, 2020 at 9:20 pm

          It is quite surprising to know that half of the banks who were members of CDIC failed. That really made me realize the importance of the existence of CDIC in preventing losses in a bank run.

      • Paul on March 4, 2020 at 1:59 pm

        Great info in their post!

        • Rochana on March 19, 2020 at 3:10 am

          I learned that Canadians are very fortunate to have the CDIC!

    • Amber on February 24, 2020 at 10:54 am

      this is all new info to me – but interesting to know we are covered up to 100K, and that foreign currencies are currently not! Thanks for educating!

      • Jon Weigand on March 3, 2020 at 8:33 am

        43 banks have failed, wow, had no idea it was that much!

    • Mason Lin on February 25, 2020 at 9:23 am

      Great! Didn’t know about different account types are covered.

    • Jacqueline Kelly on February 25, 2020 at 10:02 am

      Great to know that we are covered!

      • Chris McLachlin on February 25, 2020 at 12:11 pm

        I’ve learned a lot the past year about CDIC through their excellent social media presence and contests, but I didn’t know about some of the upcoming changes. It’s great to know there will be coverage for longer term GICs.

        • Valerie on March 3, 2020 at 8:15 am

          Didn’t know mutual funds not covered. Should I be thinking of investing in something covered instead?

    • Ed on February 25, 2020 at 10:43 am

      It’s good to know foreign currencies will soon be covered by CDIC.

      • Bob on March 3, 2020 at 10:48 am

        Great info Barry….a necessary read for everyone in Canada for sure.
        Cheers
        Bob

    • Sandra Hahn on February 25, 2020 at 12:11 pm

      I was unaware of what protection CDIC offered me. I now know how much coverage I have personally for my accounts. Thanks for the info.

      • Katherine Dubreuil on March 21, 2020 at 8:43 pm

        Wow, I didn’t know that 43 banks had failed in Canada !
        I am glad that CDIC will insure $100,000, and good to know CDIC will soon cover foreign currencies.

    • jason kinnin on February 25, 2020 at 1:41 pm

      This is great info!! I like CDIC

    • Jeannie on February 26, 2020 at 1:27 am

      This has been very informative. I didn’t know about CDIC until this article and quiz.

    • Namita Warier on February 26, 2020 at 2:39 am

      Being an immigrant, It’s good to get all this info. Its also great to know how easy it is to get more info about what can be covered. A

    • Patricia on February 27, 2020 at 4:03 pm

      Good to know we are covered thx CDIC

    • Luay on February 28, 2020 at 9:45 pm

      Good article !

    • Yueng Chan on February 29, 2020 at 2:39 pm

      Excellent clear and concise review

    • Meg on March 4, 2020 at 10:08 pm

      You don’t hear a lot about the CDIC, good to know how they operate.

    • Linda on March 11, 2020 at 9:55 pm

      Very valuable info.

  2. Gerald Joseph Gibeault on February 24, 2020 at 6:32 am

    Good info-
    -stocks and bonds not covered
    -foreign currencies not currently covered, but will be as of April 20, 2020
    – $100,000 limit per deposit category

    • Jen on February 24, 2020 at 7:16 am

      Well, I have to be honest; i knew nothing about CDIC coverage before today.

      TIL what types of accounts are covered, how to tell if a financial institution is a member of CDIC, and that 43 (!!!) Canadian banks have failed. Now I’m going to go look that info up!

      Thanks for this post and making it a contest!

      • Ni Chen on February 24, 2020 at 7:27 am

        It was interesting to be that RESPs and RDSPs weren’t covered but goodTo know they will be starting next April.

        • Andrea Chan on February 24, 2020 at 8:39 am

          Good article. I had no idea who CDIC was and the types of accounts covered and limit. What I found scary is the number of bank failurres.
          Good to know about memberships.

          • Neelan Govender on February 25, 2020 at 5:38 pm

            Great refresher. Also learned that resps are not covered by the cdic



      • Sherry Lynn Harrington on February 24, 2020 at 8:09 am

        43 banks have failed since CIDC inception. Wow. I did not realize that.

    • Angela cashell on February 24, 2020 at 8:54 am

      Many of the items I was unaware of. Very useful!

    • Julie Bolduc on February 25, 2020 at 9:18 pm

      I was interesting to be that RESPs and RDSPs weren’t covered.

  3. Mik on February 24, 2020 at 6:38 am

    Thanks. Interesting info regarding RESP not covered at this time.

    • Kerry on February 24, 2020 at 11:01 am

      Thanks for the info. I did not realize RESPs were not covered, but happy to hear they will be next April.

  4. Pylin C on February 24, 2020 at 6:42 am

    I like this quiz format! I learned many things but one that jumped out was it used to not cover foreign currencies but now does, yay!

  5. Brian on February 24, 2020 at 6:51 am

    Unbelievable that 43 banks have failed!! Guess a lot of people are thankful for CDIC!

  6. Ray on February 24, 2020 at 7:08 am

    Wow – seems like CDIC is way more important that I thought. Be careful of banks that are not insured!

  7. Sur on February 24, 2020 at 7:16 am

    Contest is good way to challenge learning. I like the improvements Cdic is making.

    • Zubair on February 25, 2020 at 12:29 pm

      A nice read! Was surprised to learn that 43 banks have failed!

  8. Silvia on February 24, 2020 at 7:27 am

    Didn’t know foreign currency will soon be covered

  9. Dave on February 24, 2020 at 7:31 am

    Thought I knew quite a bit about CDIC before … but clearly I didn’t! Learned lots, thanks for the post. Great that foreign currency deposits will be covered after April 30th this year. 43 bank failures – wow! Thanks for the post – really interesting.

  10. Michael on February 24, 2020 at 7:34 am

    Was surprised to see the number of banks that have failed since its inception! Great information and good to see that RESPs will be covered next year, too.

  11. Tony Vuong on February 24, 2020 at 7:42 am

    Glad to learn that resp and rdsp will be covered in the future!

    • Amanda Masters on February 24, 2020 at 8:01 am

      Wow, thanks for all the informative information. I feel pretty confident about finances but this is all completely new to me. I never even heard of CDIC before reading g this post.

  12. Nourah on February 24, 2020 at 7:58 am

    Shocked to learn that 43 banks have failed! Learned some surprisingly and very useful information!

  13. joy on February 24, 2020 at 8:00 am

    i learned that RESPs are not covered by CDIC – I didn’t know this!

    • Sherry Lynn Harrington on February 24, 2020 at 8:11 am

      43 banks have failed since CIDC inception. Wow. I did not realize that.

  14. Alysia Marissen on February 24, 2020 at 8:02 am

    Great info!

  15. Tamara Wright on February 24, 2020 at 8:06 am

    Good to learn to spread money over several bank accounts to get full insurance coverage and re-imbursement upto $100,000 per account.

    • Gary on February 29, 2020 at 5:06 pm

      Is that the way it works? Do you get $100K coverage at each bank account? …or is it $100K total per each category?

  16. Janice Chung on February 24, 2020 at 8:08 am

    Wish the coverage was more than $100,000 per account. Hasn’t it been that amount for ages…..decades?

  17. Michelle tremblett on February 24, 2020 at 8:08 am

    Really I’m very surprised to learn 43 banks have failed. I wasn’t expecting that. Also learning about the $100,000 limit, I just assumed all would be covered. Great info! Thank you.

  18. Anita D on February 24, 2020 at 8:16 am

    I have read up on CDIC in the past but I was surprised to see how many financial institutions have failed

  19. Lena on February 24, 2020 at 8:17 am

    It was great to learn that foreign currencies will soon be covered by the CDIC!

    • James pitcher on February 24, 2020 at 3:03 pm

      I learned that 43 Canadian banks have gone under – good thing we have the CDIC!

  20. Rosi on February 24, 2020 at 8:17 am

    I learned that each category of deposits is covered up to $100,000

  21. Juan Aguirre on February 24, 2020 at 8:25 am

    Good to know what investments are covered and which ones are not.

  22. Andrew Minkevich on February 24, 2020 at 8:25 am

    I never heard about CDIC till now. I thought the articles was about the CIBC bank. God to know we are covered up to $100K for all categories. Wow, never knew 43 banks failed but no money was lost since there is coverage by CDIC.

  23. Deborah Giuga on February 24, 2020 at 8:29 am

    Thanks for the great info

  24. Stephanie Chua on February 24, 2020 at 8:31 am

    thank you so much!!! being a newcomer, it really provided much needed information. main takeaway was the type of investments that were covered by CDIC. Good trivia on the number of banks that have failed!:) thank you again!!:)

  25. Jaclyn O'Shaughnessy on February 24, 2020 at 8:35 am

    Great article! I learned that RESPs will soon be protected, which is great because I have a young son and am actively saving for his education.

  26. Shelly OHara on February 24, 2020 at 8:36 am

    Good post, it was good to learn specifically what type of accounts are covered, thx.

  27. Andy on February 24, 2020 at 8:39 am

    Great article on CDIC and my options

  28. Pearl Saban on February 24, 2020 at 8:39 am

    Good info. I’ve already been playing the CDIC game, so I knew several of these points. I’m happy to know that as of April 30, foreign currency — the same $100,000 limit per category -‘- will also be covered, when deposited at a CDIC member.

  29. Hannah on February 24, 2020 at 8:43 am

    Glad to know that foreign currencies will start to be covered this year! I have a USD account so that makes me feel more reassured.

  30. Toks Weah on February 24, 2020 at 9:01 am

    From playing the game I knew the USD account were not covered, good to know they’ll be extending their protection.

  31. Michelle on February 24, 2020 at 9:09 am

    I didn’t realize investment protesting was only GICs. Thanks for sharing.

  32. bonnie c. on February 24, 2020 at 9:22 am

    I learned so much about the CDIC and I actually didnt know much about them at all before that. Thanks for that!

  33. Theodore on February 24, 2020 at 9:26 am

    Surprised to hear that 43 banks have failed……. thought it would be much less than this.

  34. Kev go on February 24, 2020 at 9:28 am

    I learned that there are different categories that are covered by the cdic insurance. Great to know!

  35. Godfrey Miu on February 24, 2020 at 9:30 am

    Fun quiz! Eye opening about 43 banks failed since the 60s!

  36. Vicki on February 24, 2020 at 9:36 am

    I learned RESP will be covered soon.

  37. Sarah on February 24, 2020 at 9:41 am

    Wow surprised to learn how many banks have failed!?!

  38. Mike on February 24, 2020 at 9:43 am

    Didn’t realize that RESPs weren’t covered. But it’s nice to see positive changes coming to something for a change.

  39. Stacey M on February 24, 2020 at 9:45 am

    Interesting to learn 43 banks have failed since CDIC was introduced

    • Angela on February 24, 2020 at 11:20 am

      Great article! Learned many things about the CDIC, including that there are so many banks that have failed

  40. Matthew Ng on February 24, 2020 at 9:47 am

    Always good to get a refresher on CDIC. It would be interesting to find out if they have plans on increasing the $100,000 threshold. I think that’s been in place for many years now.

  41. Cyrena Eddy on February 24, 2020 at 9:47 am

    Thank you for such great information!. I learned what CDIC stands for and their role in ensuring Canadians get their money back in a timely manner if their bank fails. Also that 43 banks have failed since CDIC was introduced but not one dollar under CDIC protection was lost to these failures. I learned that it covers up to 100K and they cover Tax Free Savings Accounts and Registered Retirement Savings plans and Guaranteed Investment Certificates.

  42. Marlene S on February 24, 2020 at 10:03 am

    Interesting read! Thought I knew about CDIC but unaware that 43 institutions had failed in the past.

  43. Stephanie M on February 24, 2020 at 10:07 am

    Great read thanks Barry! I didn’t know until reading your article that CDIC doesn’t cover foreign currencies!

  44. Jason on February 24, 2020 at 10:11 am

    That the coverage is $100,000

    • Marina Petrevska on February 24, 2020 at 5:31 pm

      CDIC doesnt cover foreign currencies!

  45. Francis MacDougall on February 24, 2020 at 10:11 am

    I was surprised that 43 banks had failed since CDIC started and no one lost their money

  46. Lindsay Threlkeld on February 24, 2020 at 10:15 am

    I learned that TFSA’s & RRSP’s are currently covered & that RESP’s & RDSP’s will be in 2021

  47. Yasin P on February 24, 2020 at 10:23 am

    Surprised to learn that 43 banks have failed and were covered by CDIC

  48. Dustin on February 24, 2020 at 10:30 am

    I learned that Stocks, Bonds, and Mutual Funds are not covered by CDIC!

  49. Mary McEleney on February 24, 2020 at 10:31 am

    My biggest surprise was that bonds were not covered by CDIC. I thought they were the safest investment. Very useful information in this article.

  50. Michael on February 24, 2020 at 10:35 am

    CDIC is a great thing. Still stumps me though that it’s been capped at $100K forever without any indexing for inflation. $100K ain’t what it used to be.

  51. Toshiki on February 24, 2020 at 10:46 am

    Feel safer that my money is safe in the bank.

  52. Herbert To on February 24, 2020 at 10:47 am

    thanks for all the info and the heads up

  53. Jackie M on February 24, 2020 at 10:56 am

    I learned that only investments covered is GICs. Good to know about it since I have investments.

  54. Angela E on February 24, 2020 at 10:57 am

    I didn’t know that there were even 43 Canadian banks – to fail? Does that mean 43 branches of banks? Now I need to know! Thanks for the info!!

  55. sonya on February 24, 2020 at 10:58 am

    Guaranteed Investment Certificates (GICS). Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC. Your GICs and other term deposits with original terms to maturity of five years or less are covered. As of April 30, 2020, there will be extended coverage of eligible deposits with terms greater than 5 years.

  56. Gabe Fortin on February 24, 2020 at 11:03 am

    Ha, way more canadian banks have failed than I realized!

  57. ANDREW on February 24, 2020 at 11:06 am

    I never knew what CDIC was covering $100k in EACH account.

  58. LINDA d on February 24, 2020 at 11:08 am

    I learned that Stocks, Bonds, and Mutual Funds are not covered by CDIC!

    • Jessika Hayward on February 24, 2020 at 2:48 pm

      I work for a bank so we constantly review CDIC, but #3 is definitely surprising!!

  59. Angela on February 24, 2020 at 11:21 am

    Never knew that Cdic covers so many different account types

  60. Romil on February 24, 2020 at 11:22 am

    Interesting read.

  61. Jerred on February 24, 2020 at 11:27 am

    Learned what CDIC does and how it works

  62. quanta on February 24, 2020 at 11:35 am

    i learned that RESPs are not covered by CDIC. Was surprised.

  63. April Campbell on February 24, 2020 at 11:40 am

    I learned that this is a thing and my bank is on the list.

  64. B Ha on February 24, 2020 at 11:40 am

    learned that it is $100,000 limit per deposit category

    • Kimberley Bettencourt on February 24, 2020 at 5:44 pm

      Thank you for all the information, super helpful. Never knew all this. I was suuuper surprised how THAT many banks failed since CDIC was introduced…. Thats actually pretty shocking…

  65. Lydia on February 24, 2020 at 11:46 am

    Interesting read!

    • Peter on March 1, 2020 at 12:59 pm

      Those changes coming to CDIC protection over the next two years seem very positive overall!

  66. Heather S. on February 24, 2020 at 11:49 am

    I didn’t learn anything about the CDIC, because I’ve known all about who and what they do for decades. I LOVE the CDIC!

  67. Craig on February 24, 2020 at 12:04 pm

    Great to see that foreign currency will soon be covered!

  68. ezra g on February 24, 2020 at 12:07 pm

    Didn’t know that so many CAD banks have failed!

  69. Lana Hood on February 24, 2020 at 12:08 pm

    I learned that CDIC protects up to $100,000 (including principal and interest) per deposit category.

  70. Tammy Bricker on February 24, 2020 at 12:14 pm

    I’m glad to learn the registered disability savings plans will be covered effective April 2021. That will affect your my daughter

  71. Parth Bamania on February 24, 2020 at 12:19 pm

    I wasn’t aware that so many banks have failed. I already knew about the accounts that were covered by CIDC but it was good to learn that the service has been put to the test by our economy and different challenges and always covered Canadians. Also good to know how moving forward CIDC will cover more account types. Thank you for the information.

    • Shirley on February 24, 2020 at 7:54 pm

      Thanks for updating us with the new info

  72. Rachel C. on February 24, 2020 at 12:28 pm

    I was surprised to learn that so many banks have failed, but it’s good to know that accounts were protected by CDIC — that’s great.

  73. Nicholas on February 24, 2020 at 12:34 pm

    I’m now going to look for the purple sticker on my next trip to the bank.

  74. Yong Chen on February 24, 2020 at 12:41 pm

    I learned that Stocks, Bonds, and Mutual Funds are not covered by CDIC

  75. Amanda Tian on February 24, 2020 at 12:41 pm

    learned that it is $100,000 limit per deposit category

    • Susan on February 25, 2020 at 12:10 pm

      Thanks for a great article. I was aware of CDIC coverage, but not aware of the changes taking place in the next couple of months.

  76. Vivien on February 24, 2020 at 12:45 pm

    I honestly did not know anything about CDIC before this post, thanks for sharing!

  77. Ken on February 24, 2020 at 1:07 pm

    It is nice to hear that foreign currency which I assume will include US$ saving accounts will be covered starting Apr 30th. It would be interesting to know whether that will be a new category or grouped into an existing category.

  78. Maddie on February 24, 2020 at 1:08 pm

    I learned that foreign currencies will be covered by CDIC starting April 30th. Thanks great news!

  79. Chris C on February 24, 2020 at 1:24 pm

    I learned that Credit Unions are not covered by CDIC and also that perhaps I should diversify my savings and open a bank account covered by CDIC protection!

  80. Karen on February 24, 2020 at 1:30 pm

    Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered by CDIC

    • JM Roubos on February 24, 2020 at 5:25 pm

      Wow that’s some useful info. Never really looked into it before. Thanks for the heads up

  81. Chris Riddle on February 24, 2020 at 1:35 pm

    I learned that RESP and RDSP are not currently covered by the CDIC. Glad to hear that’s changing though.

  82. mike s on February 24, 2020 at 1:38 pm

    I learned that the $100,000 insurance is not per person but it is spread over 7 accounts for each person. Great news

  83. Donna on February 24, 2020 at 1:59 pm

    I would not have thought 43 banks have failed in that time. Also good to know foreign currency will be covered this year.

  84. j cabral on February 24, 2020 at 2:02 pm

    Thanks for the information about CDIC.

  85. Haylee Keyes on February 24, 2020 at 2:20 pm

    I did not know that some registered plans were included in CDIC coverage. Thanks for this info!

  86. Brandon Stepanowicz on February 24, 2020 at 2:22 pm

    CDIC protects you in 7 different categories up to $100,000 (not just $100,000 coverage total). Good information. Thank you.

  87. Andy Pham on February 24, 2020 at 2:31 pm

    Great article! Always good to learn more about this.

  88. Nadya on February 24, 2020 at 2:40 pm

    Fascinating to learn that 43 banks had failed!

  89. Ujay Kim on February 24, 2020 at 2:40 pm

    Good info-
    -stocks and bonds not covered
    -foreign currencies not currently covered, but will be as of April 20, 2020
    – $100,000 limit per deposit category

  90. Debbie B on February 24, 2020 at 2:48 pm

    excellent deposit coverage for zero cost!

  91. C Hammond on February 24, 2020 at 2:50 pm

    Great information, thank you. I learned that RESP’s, while not currently covered, will be covered as of April 30, 2021.

  92. a. ostling on February 24, 2020 at 2:58 pm

    Thanks for this contest. Knowing about types of investments covered helps

  93. GALIA on February 24, 2020 at 3:12 pm

    I learned that Stocks, Bonds, and Mutual Funds are not covered by CDIC!

  94. brian on February 24, 2020 at 3:15 pm

    good to learn about RRSP coverage for CDIC.

    • Carey Hurst on February 24, 2020 at 5:37 pm

      I had no idea of any of this info really. I am shined but not surprised really that 43 banks has folded .

  95. Leon on February 24, 2020 at 3:37 pm

    I learned that foreign currency will be covered this year by CDIC

  96. Deborah C on February 24, 2020 at 3:47 pm

    I learned that as of April 30th, 2020, foreign currencies will be covered by CDIC.

  97. Barbara S on February 24, 2020 at 3:53 pm

    I was surprised what registered account are not covered

  98. M S Thompson on February 24, 2020 at 4:03 pm

    Does this mean that mutual funds held within RRSP are not covered? That was not clear from the information in the article so would appreciate clarification.
    I learned about the purple CDIC logo that identifies whether the financial institution is a CDIC member.

  99. Madison B on February 24, 2020 at 4:11 pm

    great to know that foreign currencies are covered by CDIC. thanks!

  100. Holly M on February 24, 2020 at 4:11 pm

    I honestly did not know much about CDIC before this post, I appreciated reading this article.

    The amount of banks that have failed is quite alarming.

  101. Marissa sellmer on February 24, 2020 at 4:16 pm

    Had no idea about CIDC! Fun facts thanks for the read.

  102. Milica on February 24, 2020 at 4:33 pm

    Thanks for the info, great to learn about upcoming changes!

  103. Jason on February 24, 2020 at 4:38 pm

    Learned a lot about CDIC today. I knew a little, but this article showed me a lot.

  104. Meekyung on February 24, 2020 at 4:47 pm

    I learned that foreign currencies are currently not covered by CDIC

  105. TAMMY CASSIN on February 24, 2020 at 4:54 pm

    Thank you for updating us to the changes coming. All changes are improvements to our investment and savings coverage, so thats a great thing. I will be looking for the purple sticker now!

  106. Clair Palmer on February 24, 2020 at 5:29 pm

    Wow awesome information thanks for sharing, did learn new things thank you

  107. John C on February 24, 2020 at 5:42 pm

    I learned that 43 Canadian banks have failed since CDIC was introduced. A bit surprised, thankfully CDIC was there to protect.

  108. Glennis Newton on February 24, 2020 at 5:43 pm

    Happy to hear US deposits will be covered soon!

  109. Caroline on February 24, 2020 at 5:45 pm

    I learned that the CDIC protects up to $100,000 – including principal and interest – per deposit category.

  110. Ming on February 24, 2020 at 6:07 pm

    I learned the number of banks that have failed since CDIC was formed

  111. Diana on February 24, 2020 at 6:12 pm

    @danilomanguera – good information for you

  112. Andrea d on February 24, 2020 at 6:43 pm

    So much great info! I learned that the only investments covered is GICs. Good to know!

  113. Maria Jose on February 24, 2020 at 6:43 pm

    Great article! I learned something new today! Now I now deposits are covered up to $100,000 and in various categories! Thanks for the giveaway!

  114. Irena on February 24, 2020 at 6:49 pm

    I learned that Canadian bank deposits in seven different categories are covered by CDIC up to $100,000 in each category. I love Canada!

  115. Karen H on February 24, 2020 at 6:54 pm

    I played the game and got 536 points but it stopped after that, great learning challenge

  116. Brayden on February 24, 2020 at 6:55 pm

    Good to know!

  117. Branka Stefanovic on February 24, 2020 at 7:11 pm

    I am shocked to learn that 43 Canadian banks have failed since CDIC was introduced. Glad to hear that CDIC will step in right away and reimburse your money up to 100k per eligible category.

  118. Larry on February 24, 2020 at 7:19 pm

    Thank you for the education!

  119. Anandani on February 24, 2020 at 7:27 pm

    Thank you for the info. That is so good to learn I had no idea.

  120. Andrew on February 24, 2020 at 8:02 pm

    This information should be taught to everyone, especially young students people. Financial knowledge is super important when you’re young so that you can plan ahead of time!

  121. Richard C on February 24, 2020 at 8:30 pm

    Now I know that RESP and RDSP aren’t covered (but will be next year)

  122. Rob Mann on February 24, 2020 at 8:34 pm

    Awesome to know that 7 different account types are eligible for coverage! I thought it was just savings accounts.

  123. Christine De Medeiros on February 24, 2020 at 8:40 pm

    Such great information! Nice to know that RESP and RDSP not covered but next year will be

  124. Erika R. on February 24, 2020 at 8:47 pm

    I learned so many things about CDIC including the coverage limit per category is $100,000 – that’s AMAZING!! Thanks for the generous contest & chance to win.

  125. Shelby on February 24, 2020 at 9:06 pm

    I was happy to read that even though 43 banks failed (Whoa), no money was actually lost. Thanks for the helpful information.

  126. Praveen on February 24, 2020 at 9:08 pm

    Great article! Learnt about different accounts are being covered up to $100,000 with CDIC. Thank you!

  127. Sherry Fraser on February 24, 2020 at 9:23 pm

    Thank you for the info. I learned that deposits are covered up to $100,000.

  128. Winnie Hung on February 24, 2020 at 9:26 pm

    I didnt realize that investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC.. Great to keep in mind

  129. LISA WILLIAMS on February 24, 2020 at 9:44 pm

    Learned that foreign currencies are currently not covered by CDIC but that all changes come April 30th, 2020

  130. Kenneth on February 24, 2020 at 9:50 pm

    Really appreciate this knowledge!

  131. Elsa on February 24, 2020 at 9:51 pm

    Wow amazing news!

  132. Piero Giorno on February 24, 2020 at 9:51 pm

    Without a doubt, the information you provided is highly important. I learned a lot & I’m sure other’s will benefit from it as well. Your article opened my eyes & made me understand things that I took for granted. Many thanks for the valuable information.

  133. Celine Jaquemet on February 24, 2020 at 10:02 pm

    Foreign currency is currently not covered by the CDIC.

  134. Brian Dunn on February 24, 2020 at 10:02 pm

    Good to know my deposits are covered! Now…just need to get that $100,000!

  135. Carmelo Canto on February 24, 2020 at 10:07 pm

    Learned that 43 banks have failed! It’s great to be protected by CDIC!

  136. Cawm on February 24, 2020 at 10:17 pm

    The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation that was created in 1967!

  137. Lorraine Grande on February 24, 2020 at 10:18 pm

    We work hard for money so it’s good to know how to protect it thank you for my reminding us the types of investments that are covered by CDIC. We can never be well enough informed

  138. Michelle Strub on February 24, 2020 at 11:14 pm

    I always thought it was $80,000 was covered so good to know it’s $100,000!

  139. Colette on February 24, 2020 at 11:14 pm

    Very surprised to learn that 43 banks have failed! Thanks for the new and important information!

  140. Tainan Lu on February 24, 2020 at 11:25 pm

    It’s great that US currency will be covered after April.

  141. Denise M on February 24, 2020 at 11:31 pm

    Thank you for helping to debunk some myths! Some very useful information on this blog. Thanks for publishing!

  142. Scotty on February 25, 2020 at 12:18 am

    Wow, I learned that 43 banks have failed since CDIC was started. Glad you are there protecting Canadians! 🙂

  143. Karen Larson on February 25, 2020 at 12:33 am

    Glad to hear that foreign currencies held in member banks will be covered just like Canadian currencies after Apr. 30. After all many people are snowbirds and need to keep foreign currency.

  144. Mitch E on February 25, 2020 at 12:59 am

    I was unaware RESP was not covered. Thanks

  145. Heather Sibley on February 25, 2020 at 6:57 am

    I was happy to learn that Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered by CDIC.

  146. Kerry Leslie on February 25, 2020 at 7:08 am

    I didn’t know RESPs aren’t covered. Glad to know that will change!

  147. Rachel on February 25, 2020 at 8:18 am

    Found out that as of April 30, foreign currency — the same $100,000 limit per category -‘- will also be covered, when deposited as a CDIC member.

  148. Shannon Johnson on February 25, 2020 at 8:33 am

    It was interesting to learn that 43 banks have failed since the CDIC started and that TFSAs and RRSPs are covered. I also like the fact that this insurance covers up to $100,000 per account.

  149. Brad on February 25, 2020 at 8:55 am

    I definitely had no idea that Canada’s seen that man bank failures, given our relatively small number of financial institutions. It’s encouraging that CDIC has never failed to protect covered assets as well.

  150. Christina on February 25, 2020 at 9:16 am

    I learned that the coverage limit per category at CDIC is $100,000

  151. Grace on February 25, 2020 at 9:19 am

    Good to see that USD accounts will be covered in April. CDIC is a great security feature.

  152. Ray C on February 25, 2020 at 9:20 am

    Good news that US currency will be covered after April.

  153. kim kightley on February 25, 2020 at 9:20 am

    Thanks for the info.
    -stocks and bonds not covered
    -foreign currencies not currently covered, but will be as of April 20, 2020
    – $100,000 limit per deposit category

  154. Tiesha on February 25, 2020 at 9:21 am

    I learned that Registered Retirement Saving Plans are covered by the CDIC

  155. Sunshine G on February 25, 2020 at 9:23 am

    I didn’t know the coverage limit was $100,000 – that’s good to know!

  156. jon on February 25, 2020 at 9:23 am

    I didn’t know I could look for those purple stickers. I will now look for it next time I go into my bank!

  157. Andrew Karpavicius on February 25, 2020 at 9:24 am

    I am glad US currency will be insured as of April 20, 2020.

  158. Eli on February 25, 2020 at 9:24 am

    i learned that CDIC protects up to $100,000. It will be a LONG time til I need that much coverage, though!

  159. oscar on February 25, 2020 at 9:26 am

    I learnt that RRSPs are covered by the CDIC

  160. richard turner on February 25, 2020 at 9:29 am

    Its a smart thing to have in Canada.

  161. Megan Webber on February 25, 2020 at 9:30 am

    I learned that foreign currency is not covered by CDIC.

  162. André on February 25, 2020 at 9:30 am

    I learned that foreign currency accounts will soon become covered by the CDIC

  163. Stephanie Moore on February 25, 2020 at 9:30 am

    Always good to know this information, you never know when you might need it.

  164. Janna on February 25, 2020 at 9:31 am

    Good to know RESP’s will be insured starting next year

  165. Wilson McArthur on February 25, 2020 at 9:33 am

    The important topic to me is which categories of investment s / savings are covered by CIDC

  166. nicolas bello on February 25, 2020 at 9:42 am

    43 failed banks was a real eye opener. Thanks for all the great information!

  167. Dana123 on February 25, 2020 at 9:47 am

    I found it interesting that 43 banks have failed since CDIC was introduced – waaaay too many for my comfort!

  168. Richard on February 25, 2020 at 9:48 am

    Its good to find out moneys will be paid out within days (not months) if my bank fails

  169. Tabby72 on February 25, 2020 at 9:48 am

    I learned that 43 banks have failed…so many!

  170. Olga Rymes on February 25, 2020 at 9:51 am

    Good to know the changes that are coming and get a refresher on all the rules.

  171. Emily Edwards on February 25, 2020 at 9:54 am

    I learned that although RESPs and RDSPs aren’t currently covered, they will be as of April 30, 2021.

  172. Joanna on February 25, 2020 at 10:01 am

    Thanks for the info! Crazy that 43 banks have failed!

  173. Gerald Johnson on February 25, 2020 at 10:01 am

    A great quiz

  174. Vanessa Logan on February 25, 2020 at 10:09 am

    I learned that a lot of banks (43!) have failed. I didn’t realize it happened so often!

  175. Irena Drapinska on February 25, 2020 at 10:12 am

    I feel much better now knowing that my money is protected

  176. Lillian Poulton on February 25, 2020 at 10:12 am

    I always thought CDIC coverage was $100,000 total per person. Great to know it’s per qualifing account!

  177. Jennifer Monaghan on February 25, 2020 at 10:15 am

    RESP will be covered in 2021

  178. Barbara Behan on February 25, 2020 at 10:18 am

    It’s great to know that we are automatically covered for $100,000 in each category.

  179. Deborah Tack on February 25, 2020 at 10:21 am

    Thanks for all the information. I didn’t realize that USD accounts were not covered but will be as of April 30th. Also learned that 7 different types of accounts could be covered for $100,000 each.

  180. Marni Cook on February 25, 2020 at 10:27 am

    This is information that all Canadians should know. I didn’t realize RRSP’s were covered, but RESP’s and RDSP’s are not.

  181. lisa penney on February 25, 2020 at 10:28 am

    was definitely surprised to learn how many banks have failed, but glad CDIC is there to help!

  182. Melinda Anderson on February 25, 2020 at 10:29 am

    I learned that RESPs are not covered at this time but will be in the future.

  183. Rob Marcoux on February 25, 2020 at 10:30 am

    It’s good to know that we are covered, and don’t have to do anything to get it.

  184. Phyllis W. on February 25, 2020 at 10:33 am

    I learned more banks have failed in Canada than I thought.

  185. Debbie Marcoux on February 25, 2020 at 10:40 am

    A comfort to have this coverage just in case.

  186. tanya campbell on February 25, 2020 at 10:40 am

    Great to leave about money and savings and retirement

  187. Julie A on February 25, 2020 at 10:40 am

    I learned that GICs are covered by CDIC. Good to know!

  188. Dallas Mullaney on February 25, 2020 at 10:42 am

    Thanks for the information about CDIC!

  189. Paul Burdon on February 25, 2020 at 10:46 am

    i was surprised that 43 banks have failed in Canada
    Great that we have the CIDC to protect us at no cost to us!

  190. Mary on February 25, 2020 at 10:47 am

    I had no idea 43 banks have failed – useful information

  191. Simon Potvin on February 25, 2020 at 10:51 am

    Great that we have the CIDC, but I feel like the $100,000 amount should be upped. It really doesn’t cover much once you start to get to those higher amounts in your retirement accounts.

  192. Linda A on February 25, 2020 at 10:52 am

    I was surprised to read that 43 banks had failed.

  193. MaryM on February 25, 2020 at 10:52 am

    CDIC covers 100,000 dollars on your deposits. Thanks

  194. Jenness M on February 25, 2020 at 10:58 am

    Foreign currencies will be covered by the CDIC on April 30th.

  195. Sandi Tymchuk on February 25, 2020 at 10:59 am

    I learned that effective April 30, 2020, foreign currencies will be protected, up to 100,000..

  196. AJ Jones on February 25, 2020 at 10:59 am

    I learned what CDIC does and doesn’t cover

  197. Robert Monaghan on February 25, 2020 at 11:01 am

    $100,000 per category is covered.

    • Paulo f on February 27, 2020 at 9:29 pm

      Wow thank you to tue crown for looking out for us Canadians. Who knew!

  198. Dessa on February 25, 2020 at 11:02 am

    I was shocked to learn that 43 banks have failed!

  199. Shannon Webber on February 25, 2020 at 11:08 am

    It was good to learn that RDSPs will be covered starting next year.

  200. Paula on February 25, 2020 at 11:08 am

    I didn’t realize 43 banks have failed. Quite an eye opener….

  201. Teresa Dalman on February 25, 2020 at 11:09 am

    I learned that the rules for what is covered by CDIC are changing shortly.

  202. Sandra on February 25, 2020 at 11:11 am

    Great to know that we are covered!

  203. Sandra Lackie on February 25, 2020 at 11:11 am

    Thank you for the important information.

  204. Judy on February 25, 2020 at 11:14 am

    I learned that Registered Education Savings Plans (RESP) isn’t currently covered by CDIC

  205. Judy Folk on February 25, 2020 at 11:16 am

    i learned its only 100,000 that is covered per category and i think that amount should be increased

  206. Al D on February 25, 2020 at 11:19 am

    Great information, thank you.

  207. Noah on February 25, 2020 at 11:21 am

    Thank you for the important information.

  208. Sara on February 25, 2020 at 11:23 am

    A great quiz to instruct the public.

  209. kap on February 25, 2020 at 11:23 am

    Thank you for the important information.

  210. Darlene Howard on February 25, 2020 at 11:23 am

    Very informative, I love to stay on top of financial information.

  211. Andrew on February 25, 2020 at 11:24 am

    Great to know that we are covered!

  212. Christopher on February 25, 2020 at 11:25 am

    Good to know what investments are covered and which ones are not.

  213. frances hollywood on February 25, 2020 at 11:25 am

    Very informative! Thank you Money We Have and CDIC

  214. Nav on February 25, 2020 at 11:27 am

    Glad to gear US Deposits will soon be covered.

  215. Sandra S on February 25, 2020 at 11:31 am

    I learned that foreign currencies are supposed to be covered starting April

  216. Ken Wolfe on February 25, 2020 at 11:31 am

    Nice to know what’s covered and what isn’t before making investment decisions.

  217. Rita Wolfe on February 25, 2020 at 11:33 am

    Great to hear I am covered up to $700,000 at no cost to me.

  218. Aidan Wolfe on February 25, 2020 at 11:34 am

    Good information presented in a fun way.

  219. Megan H on February 25, 2020 at 11:34 am

    RESPs are not covered, I didn’t know that

  220. lynn clayton on February 25, 2020 at 11:36 am

    INTERESTING FACTS I DID NOT KNOW ABOUT

  221. pat stulov on February 25, 2020 at 11:37 am

    great information and good to know..interesting..thanks for sharing..

  222. Ali on February 25, 2020 at 11:46 am

    I did not know GICs were covered. I didn’t think they needed it.

  223. Nathan on February 25, 2020 at 11:49 am

    RESPS are not covered!? good to know

  224. Jennifer on February 25, 2020 at 11:49 am

    That is really something about foreign currencies! Great for travellers. I’m glad my banks are members.

  225. Brown Carol on February 25, 2020 at 11:51 am

    I learned Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC.

  226. Ali K on February 25, 2020 at 11:51 am

    Very cool. I didn’t know that there had been 43 bank failures, nor that RESPs are not covered but will be!

  227. Joan on February 25, 2020 at 11:55 am

    Thanks for info about changes to CDIC that are to take place on April 30.

  228. fnamor on February 25, 2020 at 11:58 am

    Good to hear RESP’s will be included in the future.

  229. Carmelita Martin on February 25, 2020 at 11:59 am

    Thanks for the helpful information!

  230. Cheryl Germain on February 25, 2020 at 12:00 pm

    Glad to learn that the CDIC protects up to $100,000 (including principal and interest) per deposit category. And that there are 7 categories, making the protection up to $700,000

  231. Aaron on February 25, 2020 at 12:03 pm

    Good article. What I learned: TFSAs and RRSPs are covered, but RESPs and RDSPs are not yet.

  232. Joy D on February 25, 2020 at 12:08 pm

    I did not know Registered Education Savings Plans and Registered Disability Savings Plans aren’t currently covered, but will be as of April 30, 2021.

  233. Kellie Warnock on February 25, 2020 at 12:12 pm

    This is excellent information , glad to hear the Registered Disability Savings Plan will be covered April 30 2021.

  234. Erika on February 25, 2020 at 12:15 pm

    I definitely didn’t realize so many banks had failed before. What a surprise! And that CDIC will reimburse your money up to 100k per eligible category.

  235. Anu Chopra on February 25, 2020 at 12:15 pm

    Interested to learn that some types of accounts covered by CDIC are the Tax-Free Savings Accounts and Registered Retirement Saving Plans and that Registered Education Savings Plans (RESP) and Registered Disability Savings Plans (RDSP) aren’t currently covered, but will be as of April 30, 2021.

  236. Jean-Pierre Guignard on February 25, 2020 at 12:28 pm

    The 2 last banks to have gone bankrupt go back to 1985. ÉBet you never heard about CCB & Norbank. Very unlikely it will happen again as a bank in difficulty will probably be merged with a major one now.

  237. Cindy L on February 25, 2020 at 12:30 pm

    Thanks for this info! While I assumed we were covered, I’ve never looked into this in detail. Good to know that the only types of investments covered our GICs. That is important to know when keeping aside money for emergency funds.

  238. Z on February 25, 2020 at 12:31 pm

    Nice to hear that foreign currencies will soon be covered 🙂

  239. Deb Philippon on February 25, 2020 at 12:32 pm

    Good to know – stocks and bonds are not covered, neither is cryptocurrency.

  240. Pat Howe on February 25, 2020 at 12:32 pm

    Thanks so much.

  241. Mike Gismondi on February 25, 2020 at 12:43 pm

    This is great information. Thanks!

    • SUSAN on March 3, 2020 at 8:50 am

      Good article. I learned about the upcoming changes and also a clear outline of what is and what is not covered.

  242. Corinne Beaupre on February 25, 2020 at 12:45 pm

    Good article. I will look for the purple CDIC logo at my bank.

  243. angela griffin on February 25, 2020 at 12:46 pm

    I had no idea that this even existed. This is a great comfort.

  244. ERNIIE E. on February 25, 2020 at 12:49 pm

    wow i didnt lot of this info….i copied it down for future reference..had i known this long ago ..i might be rich today and afford food

  245. Richard Skeen on February 25, 2020 at 12:54 pm

    CDIC is important to me and much appreciated.

  246. Caitlin Herring on February 25, 2020 at 12:54 pm

    It’s interesting to learn what accounts and investments are covered! I don’t know lots about banking and this really helps!

  247. Valerie Caldicott on February 25, 2020 at 12:55 pm

    Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC as I thought mutual funds were.

  248. Calvin on February 25, 2020 at 12:56 pm

    Only recently knew about some of these, many updates to the amounts too in the next year. Thanks for sharing.

  249. Frank Stock on February 25, 2020 at 12:56 pm

    Great to know the different categories that are covered

  250. Johanna M on February 25, 2020 at 1:08 pm

    Thank you for the useful information …definitely learned something new today

  251. George Park on February 25, 2020 at 1:08 pm

    I learned that foreign currencies are Not covered by the CDIC

  252. Polina Rozenberg on February 25, 2020 at 1:08 pm

    Good to know that foreign currency will soon be covered!

  253. Rose on February 25, 2020 at 1:16 pm

    That is great infrmation, thanks

  254. Natalie V on February 25, 2020 at 1:29 pm

    Great information!! Loved learning that Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered and that there’s moved towards getting the (RESP) and (RDSP)s will be covered as of April 30, 2021! This affects lots of my clients!

  255. Leigh on February 25, 2020 at 1:30 pm

    I had never heard of this institution before this blog. Thanks for the info.

  256. Sherri on February 25, 2020 at 1:40 pm

    I’m really learning a few things here – and I love the contests. Thank you!

  257. Mike C on February 25, 2020 at 1:45 pm

    Great to know we are looked after if the banks drop the ball!

  258. Lisa Morrison on February 25, 2020 at 1:45 pm

    I didn’t realize that CDIC covered $100,000 in 7 different categories. Thanks for the info.

  259. Mike Scott Mottishaw on February 25, 2020 at 1:46 pm

    i learned that foreign currency is NOT covered by the CDIC

  260. kevin ritchie on February 25, 2020 at 2:01 pm

    $100,000 per deposit category is covered

  261. Glenn Maguire on February 25, 2020 at 2:02 pm

    very informative information

  262. Naomi Deren on February 25, 2020 at 2:02 pm

    great info! I was surprised by how many banks have failed. Makes CDIC even more important!

  263. Joy M on February 25, 2020 at 2:04 pm

    Thanks for the info – good to know what kind of investments are covered.

  264. Brian Norris on February 25, 2020 at 2:04 pm

    Thank you, very good information. Too bad that RESP are currently not covered, even the amount invested by customer not the matched portion.

  265. Amy Heffernan on February 25, 2020 at 2:07 pm

    WOW!! I really had no idea. Crazy how 43 banks have failed. But its good information to have out there!

  266. Debbie Auliffe on February 25, 2020 at 2:09 pm

    I am very happy to know that RDSP deposits will soon be covered. That is where all of my daughters money is.

  267. Sally on February 25, 2020 at 2:11 pm

    I didn’t realise that only GICS were covered and not mutual funds…Good to know. This helps me make a more informed decision when I go to my bank. Thanks!

  268. Angela Duku on February 25, 2020 at 2:17 pm

    I learn that CDIC only covers Guaranteed Investment Certificates

    • Dawn Muggleton on March 1, 2020 at 3:36 pm

      CDIC protects up to $100,000 ..pretty good if my bank or investments fail.

  269. Tara Carver on February 25, 2020 at 2:19 pm

    I learned that tax free savings accounts are covered by the CDIC

  270. ANR on February 25, 2020 at 2:25 pm

    I had no idea banks failed so regularly and I wish to win this contest.

  271. Ester on February 25, 2020 at 2:32 pm

    I learned that foreign accounts are not currently covered

  272. nicky on February 25, 2020 at 2:37 pm

    I learned that I can check the CDIC website to see if my financial institution is a member of CDIC.

  273. Ruth Campbell on February 25, 2020 at 2:44 pm

    The more you know……..

  274. Cindy on February 25, 2020 at 2:56 pm

    Until I took the quizz i had no idea there were 7 categories that are covered…I thought it was just 100, 000 total. Thanks for the info!

  275. Maureen Nolan on February 25, 2020 at 3:07 pm

    The quiz was very informative! Thank goodness CDIC exists to protect us as it was shocking to learn of the 43 bank failures in Canada!

  276. Barry Kazimer on February 25, 2020 at 3:09 pm

    Learned that 43 banks in Canada have failed. That seems like a lot.

  277. Lindsay on February 25, 2020 at 3:18 pm

    The most surprising thing I learned is that 43 banks have failed since CDIC was introduced. It is great to know that if a bank were to fail that CDIC would be able to reimburse in a timely manner.

  278. Louanne Baelde on February 25, 2020 at 3:19 pm

    Thank you for this information. Good to know we are protected.

  279. DANIELA on February 25, 2020 at 3:23 pm

    awesome, thanks for the info. so much i didnt know. 43 banks failed sounds like sooooo mamy. will check out my bank next time im in

  280. CHARLIE on February 25, 2020 at 3:25 pm

    Thanks for all the information 🙂 Would love to also win the giftcard hehe!

    Cheers

  281. Heather Swanson on February 25, 2020 at 3:28 pm

    I learned about investments.

  282. Jon T on February 25, 2020 at 3:33 pm

    I learned that RESPs will be covered starting in 2021!

  283. Heather Franssen on February 25, 2020 at 3:35 pm

    Good to know!!! Thank you.

  284. Ron on February 25, 2020 at 3:37 pm

    Always good to have more info on your investments!

  285. Audrey on February 25, 2020 at 3:38 pm

    Thanks for the info and a chance to win!

  286. Carol on February 25, 2020 at 3:43 pm

    great to know we are covered so well!

  287. Sue Brennand on February 25, 2020 at 3:51 pm

    CIDC is a great comfort, knowing my wee bank account would be covered – but not my RRSPs!! Ack!

  288. Theresa Michalik on February 25, 2020 at 3:52 pm

    Great information..thanks for sharing.

  289. Andrew Wakefield on February 25, 2020 at 3:52 pm

    Wow 43 banks have failed since the start of CDIC, very interesting!

  290. MARIANGELA CORTESE on February 25, 2020 at 3:55 pm

    CDIC protects up to $100,000 (including principal and interest) per deposit category.
    Does this mean that you would not recommend someone having more than 100k per category as far as protecting ourselves? just wondering???

  291. Wendy Horne on February 25, 2020 at 3:57 pm

    Are foreign currencies covered by CDIC, that is interesting that foreign money is not included. thanks for the info and the chance to win!

  292. Pauline Hammerstrom on February 25, 2020 at 3:58 pm

    Good to know!

  293. Dave Heighton on February 25, 2020 at 4:01 pm

    Got to learn something new today about Guaranteed Investment Certificates (GICS). I will be taking a closer look at them knowing they’re covered.

  294. Rebecca F on February 25, 2020 at 4:03 pm

    I learn that CDIC only covers Guaranteed Investment Certificates.

  295. Sarah Ferguson on February 25, 2020 at 4:06 pm

    Very interesting and important information to know about CIDC.

  296. Vivian Dionne on February 25, 2020 at 4:08 pm

    I didn’t know that 43 banks have failed since inception but not one dollar under CDIC protection was lost to these failures!

  297. dennis curtis on February 25, 2020 at 4:19 pm

    Excellent content and info on this page

  298. Rita Elliot on February 25, 2020 at 4:22 pm

    A refresher on the tyoes of accounts and investments that are covered by CDIC.

  299. Jacki on February 25, 2020 at 4:24 pm

    I learned a lot from this quiz, feel better knowing my money is covered should something happen

  300. Catherine Robichaud on February 25, 2020 at 4:43 pm

    Great info! To be honest I knew very little about CDIC before reading this. I was surprised to learn that 43 banks have failed just since CDIC was introduced.

  301. Michael Jesse Struthers on February 25, 2020 at 4:46 pm

    I learned that RESPs aren’t yet covered.

  302. Daniela Plume on February 25, 2020 at 4:51 pm

    I didn’t know that there had been 43 bank failures since the CDIC was created

  303. Mike L on February 25, 2020 at 4:59 pm

    This is pretty interesting stuff. I had never even heard of CDIC before now! Thank you.

  304. Ayesha on February 25, 2020 at 5:00 pm

    I never realized the importance of ensuring money is only deposited into a CDIC accredited bank. I always saw the stickers at the branches but never realized there could be accounts not covered. Thank you for opening my eyes.

  305. Vincent Iozzo on February 25, 2020 at 5:01 pm

    I never knew that RRSPs were covered by the CDIC, so that was great information to know.

  306. Jean T. on February 25, 2020 at 5:10 pm

    I have learned lots about CDIC, most interesting is that $100,000 is covered per deposit category.

  307. Michael Maciborka on February 25, 2020 at 5:17 pm

    I learned that RESPs are not covered at this time but will be in the future

  308. Dario D on February 25, 2020 at 5:28 pm

    Thanks for the info. I did not realize RESPs were not covered

  309. Nate on February 25, 2020 at 5:29 pm

    I learnt about the different accounts that are covered by CIDC

  310. Manuel Vizcaya on February 25, 2020 at 5:30 pm

    I found out that CDIC is an abbreviation for Canada Deposit Insurance Corporation.

  311. David Vaughan on February 25, 2020 at 5:32 pm

    I never knew that RRSP’s were covered by the CDIC, so that was news to me.

  312. David Kinoshita on February 25, 2020 at 5:33 pm

    By doing the Quiz I learned a lot about banking that I didn’t know before

  313. Karen Newton on February 25, 2020 at 5:35 pm

    I had not known that 43 banks had failed!

  314. Tara R on February 25, 2020 at 5:40 pm

    Wow, great information – I learned that most of my investments are covered and that even more will be in the near future.

  315. Ken Derewianko on February 25, 2020 at 5:46 pm

    It is always interesting to know more facts and reminded about ones we forget. Thanks

  316. Jan Vaughan on February 25, 2020 at 5:46 pm

    It’s good to know that $USD will be covered in April 2020.

  317. Kim Hirt on February 25, 2020 at 5:53 pm

    It’s great that as of April 30th, foreign currency accounts and RESP’s will be covered

  318. Kelly Wiens on February 25, 2020 at 5:55 pm

    Interesting changes.

  319. Elaine on February 25, 2020 at 5:57 pm

    There are different categories that are covered by the cdic insurance.

  320. Daphne Smith on February 25, 2020 at 5:59 pm

    Thanks for the great information. I did not realize that RESPs were not covered by CDIC.

  321. Jack Edwards on February 25, 2020 at 5:59 pm

    We were unaware of what protection CDIC offered to us. We now know how much coverage we have personally for our accounts. We are both over 70 and we find the information most reassuring.Thanks for the info.

  322. Wonryang on February 25, 2020 at 5:59 pm

    I learned that 43 Canadian banks have failed since CDIC was introduced.

  323. Catherine Cole on February 25, 2020 at 6:01 pm

    Great information on CDIC coverage which we all should be aware of.

  324. Janayre Vaughan on February 25, 2020 at 6:06 pm

    I learn that CDIC only covers Guaranteed Investment Certificates at not mutual funds.

  325. aarone on February 25, 2020 at 6:10 pm

    i learned that my money will be covered!

  326. Ruth Kazimer on February 25, 2020 at 6:11 pm

    I learned 43 banks have failed

  327. Jenn Beckett on February 25, 2020 at 6:14 pm

    I did not know RESPs and RDSPs are not currently covered but will be, and I have both of those accounts for my kids. Love the quiz contest, too – learning so much!!

  328. Florence Cochrane on February 25, 2020 at 6:15 pm

    I learned that stocks, bonds and mutal funds are not covered.

  329. renee theoret on February 25, 2020 at 6:17 pm

    interesting that foreign currencies will start to be covered come April 30th, 2020

  330. Elizabeth Peterson on February 25, 2020 at 6:19 pm

    Learning about mortgage insurance and whats covered and how to qualify was very helpful

  331. Anthony Peterson on February 25, 2020 at 6:21 pm

    Learning about credit card health and when to use it successfully

  332. Deanna Matthews on February 25, 2020 at 6:42 pm

    Very informative, I love to stay on top of financial information. Soon US savings will be covered too!

  333. Linda Svarovsky on February 25, 2020 at 6:45 pm

    Surprised that 43 banks have failed. Great info on CDIC.

  334. Joseph VanCott on February 25, 2020 at 6:48 pm

    Great information to know, keep it coming!!

  335. Nicole Jubleew on February 25, 2020 at 6:52 pm

    I learned that for investments only GICs and other term deposits with original terms to maturity of five years or less are covered by the CDIC.

  336. Pam Clark on February 25, 2020 at 6:56 pm

    We are so lucky in Canada to have the CDIC! Other parts of the world have privately owned banks – they are not as lucky as we are.

  337. Carol Saponja on February 25, 2020 at 7:00 pm

    Great information to know

  338. Andrea W. on February 25, 2020 at 7:00 pm

    I didn’t know what was covered under the CDIC. Great info!

  339. Robert Caron on February 25, 2020 at 7:03 pm

    i do not have 100k in a bank but good to know

  340. T Davies on February 25, 2020 at 7:06 pm

    I knew most of this – but not that so many institutions had failed! Good to know that everything was safe and covered!

  341. Eilidh Morrison on February 25, 2020 at 7:06 pm

    Good info I didn’t know a lot of that

    • Nick Tytor on February 25, 2020 at 8:07 pm

      I found out it is easy to find out if deposits are covered by checking the CDIC website.

  342. Beth dekoker on February 25, 2020 at 7:10 pm

    Stocks, Bonds and Mutual Funds are not covered, so that is important for those who are on a fixed income.

  343. J on February 25, 2020 at 7:11 pm

    I learned that USD accounts will soon be covered

  344. Randy on February 25, 2020 at 7:15 pm

    Didn’t realize that you are covered by up to 7 types of accounts, will be spreading the $ around!

  345. Linda Webster on February 25, 2020 at 7:17 pm

    It was very shocking to hear that 43 Canadian banks have failed since 1996. It’s good the CDIC is there to protect us.

  346. audrey on February 25, 2020 at 7:23 pm

    I always wanted to know what CDIC represented and now I know!! Thank you

    • Aaron on February 25, 2020 at 7:32 pm

      I learned that A LOT of banks have failed in the past many years! 43! Wow! It’s so important to be financially prudent!

  347. Hugh Hall on February 25, 2020 at 7:28 pm

    Great to know a little about the CDIC. thanks.

  348. Kevin Southgate on February 25, 2020 at 7:36 pm

    Interesting to know foreign money is not covered, thanks for the informative article!

  349. Nils L Thorarinsson on February 25, 2020 at 7:40 pm

    wish it was more than 100000

  350. Kim Crichton-Struthers on February 25, 2020 at 7:46 pm

    I learned that 43 banks have failed since CIDC was introduced but I’m relieved to know that the customers did;t lose any money

  351. Diana R on February 25, 2020 at 7:50 pm

    I have an RDSP for my son and an RESP for my daughter. I was shocked to find out these aren’t covered by CDIC.

  352. Peggy D on February 25, 2020 at 8:09 pm

    Great information and good to know exactly what is covered. Will feel more reassured when there is more coverage on things like RESP’s and longer term investments.

  353. Jennifer Stuart on February 25, 2020 at 8:16 pm

    I was actually surprised that that many banks had failed.

  354. Sherry K on February 25, 2020 at 8:17 pm

    I was glad to hear about the many accounts that are covered by CDIC.

  355. Sybille on February 25, 2020 at 8:41 pm

    This was a lot of very interesting information, I was quite surprised that RESP deposits are not currently covered, but good to know they will be in the future.

  356. Christine on February 25, 2020 at 8:42 pm

    Great informations! Thanks!!

  357. Emily C on February 25, 2020 at 9:01 pm

    I learned that RESP’s will be covered when the new changes come into effect in April

  358. Husayn on February 25, 2020 at 9:04 pm

    I learned that Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered under CDIC and also the coverage limit.

  359. eva steinke on February 25, 2020 at 9:11 pm

    As of April 30th, 2020, travellers’ cheques will no longer be covered by CDIC. This is really good to know. But true not many people use them any more.

  360. Brittany Crawford on February 25, 2020 at 9:19 pm

    Unbelievable that 43 banks of failed!! Wow. Thanks for this information.

  361. Marlene v. on February 25, 2020 at 9:20 pm

    I found out that 43 Canadian banks have failed since CDIC was introduced.

  362. Margaret Huitema on February 25, 2020 at 9:24 pm

    I learned that Stocks, Bonds, and Mutual Funds are not covered by CDIC

  363. Lyle Opseth on February 25, 2020 at 9:35 pm

    I learned that GICs are covered that mature in 5 years or less but this will change soon to longer terms.

  364. Jill MacAulay on February 25, 2020 at 9:48 pm

    Thanks for the great information – I was pleased to find out that Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered by CDIC ! It’s nice to know that your savings and retirement funds are safe !

  365. Christiine Lewis on February 25, 2020 at 9:56 pm

    Very interesting. Surprised on how little I knew

  366. Lisa Shen on February 25, 2020 at 9:56 pm

    I didn’t know stocks weren’t covered……just GIC’s for investment accounts.

  367. Jon Jackson on February 25, 2020 at 9:56 pm

    There’s been a number of websites lately educating on CDIC. Interesting.

  368. Luis Baumann on February 25, 2020 at 10:11 pm

    Was not aware of the coming changes.

  369. Nicole J on February 25, 2020 at 10:18 pm

    I learned that RESPs aren’t currently covered, but will be as of April 30, 2021. That brings me tremendous peace of mind.

  370. LINDA COSBY on February 25, 2020 at 10:32 pm

    type of investments covered

  371. brandon forsyth on February 25, 2020 at 10:37 pm

    I learned that tax free savings accounts and registered retirement savings plans are covered by the CDIC

  372. Alana S. on February 25, 2020 at 10:38 pm

    I learned that the limit of $100,000 is per member, in each category.

  373. Mike on February 25, 2020 at 10:42 pm

    It’s good to know that cdic cover the bank accounts.

  374. Yu-Xuan T on February 25, 2020 at 10:42 pm

    Learned that Tax-Free Savings Accounts and Registered Retirement Saving Plans are covered by CDIC.

    • Tamara Zaretski on February 25, 2020 at 11:09 pm

      So cool to know that CDIC protects our money up to 100000. No one teaches you enough about money and saving. Wish it was mandatory in the school curriculum

  375. Marilyn C. on February 25, 2020 at 10:44 pm

    I learned some useful information and will look for the purple sign next time I go to the bank. Glad to know that foreign currencies are covered starting April 30, 2020. Thank you.

  376. Sabrina N Ellison on February 25, 2020 at 10:59 pm

    Thanks for the info

  377. Lori Olson on February 25, 2020 at 11:13 pm

    I learned that CDIC coverage is 100,000 in several categories.

  378. Luiz Alberto Trito Filho on February 25, 2020 at 11:16 pm

    Good to know that US, RESP and longer terms will be covered in the near future.

  379. Petra on February 25, 2020 at 11:19 pm

    I learned to not put all your eggs in one basket 🙂

  380. Deanna Petrie on February 25, 2020 at 11:48 pm

    I didn’t realize foreign currencies weren’t covered by CDIC! Now I know, which is interesting!

  381. Amberleah on February 25, 2020 at 11:49 pm

    I learned that CDIC coverage is 100,000 in several categories. Thanks for the information about CDIC.

  382. Alana LeSueur on February 25, 2020 at 11:56 pm

    I was shocked to read that RDSPs were not currently covered under CDIC.

  383. Hedy Pawluk on February 26, 2020 at 12:04 am

    Glad to hear that foreign currencies will be covered come April 30, 2020 & that travellers cheques will no longer be covered. So sad to see that so many banks have failed since CDIC came into existence. Have seen those BIG purple stickers on bank doors but now know what they mean. Glad to hear of new changes coming.

  384. Maureen C on February 26, 2020 at 12:05 am

    Confirmation of the types of accounts covered and the $100,000 limit; however, I did not find the “per vehicle” answer clear enough … does this mean per vehicle, meaning you can spread your investments out within the same institution or across several institutions?

  385. Corry on February 26, 2020 at 12:06 am

    I had no idea that 43 Canadian banks have failed since CDIC was introduced.

  386. Dawn on February 26, 2020 at 12:18 am

    Great information. I too disn’t know that 43 Canadian banks have failed

  387. Dwight on February 26, 2020 at 12:58 am

    Diversify your investments.

  388. Rachel Blunden on February 26, 2020 at 1:00 am

    surprised this many banks have failed

  389. Brittany Langstaff on February 26, 2020 at 1:01 am

    What a wealth of information!

  390. Jay Jeworski on February 26, 2020 at 1:22 am

    I learned that RRSPs and TFSAs are covered by the CDIC!

  391. Kerry tudin on February 26, 2020 at 1:28 am

    I didn’t know that reps are not covered by cidc.

  392. William Germain on February 26, 2020 at 2:44 am

    I was unaware that Registered Education Savings Plans (RESP) and Registered Disability Savings Plans (RDSP) aren’t currently covered, but will be as of April 30, 2021.

  393. Kunal on February 26, 2020 at 2:47 am

    It’s good to know that you are covered for $100,000 in seven categories.

  394. Kim McLean on February 26, 2020 at 3:53 am

    Before this contest I always thought the limit of coverage was $100K total…I never realized it was $100K for each of the 7 categories. Crazy! Thank you having our backs!

  395. GregL on February 26, 2020 at 5:45 am

    i learned foreign currencies will be covered after april 30th .. up to a limit of 100,000

  396. Cheryl Turner on February 26, 2020 at 5:55 am

    Thanks for the info. I didn’t know that GIC’s over 5 years were not covered, but am happy to know that is changing.

  397. brian bitz on February 26, 2020 at 6:27 am

    Great to know that your money in some accounts is covered up to $100,000.00.

  398. Tracy Taylor on February 26, 2020 at 6:28 am

    I learned that 43 Canadian banks have failed, but that many investments are covered up to $100 000

  399. Rick Pretli on February 26, 2020 at 6:37 am

    Happy to hear foreign currencies will soon be covered.

  400. Antoine Lavoie on February 26, 2020 at 6:45 am

    I thought it was $80,000 that is covered so good to know it’s $100,000!

  401. Penny Dickson on February 26, 2020 at 6:46 am

    Very surprising information about the bank failures

  402. janine a on February 26, 2020 at 6:57 am

    i have learned how easy it is to find out if your deposits are covered, just walk into your branch and look for the purple sticker!

  403. Maciej on February 26, 2020 at 7:23 am

    I wasn’t aware that USD would soon be covered. Thanks!

  404. Cathy Scharf on February 26, 2020 at 7:31 am

    Good stuff to know, thanks.

  405. Dominic Cloutier on February 26, 2020 at 7:36 am

    I’ve been doing these CDIC games lately so I’ve already knew this all- but I could sure use a gift.

    And $100000 actually…. in each of the 6 categories….

    • Dominic Cloutier on February 26, 2020 at 7:36 am

      I*

  406. Hal Jenner on February 26, 2020 at 7:43 am

    I didn’t know that foreign currencies were going to be covered as of later this year the same as the current ones. Thanks for the information.

  407. Sally on February 26, 2020 at 8:00 am

    I was surprised to learn that 43 Canadian banks have failed

  408. Karen Cochran on February 26, 2020 at 8:08 am

    Thanks for the information

  409. Deanna King on February 26, 2020 at 8:33 am

    Thanks for the information

  410. Todd Hochman on February 26, 2020 at 8:36 am

    It’s good to know foreign currencies will soon be covered by CDIC

  411. Pam Simpson on February 26, 2020 at 8:38 am

    Looks like very safe programs are in place for our money . Good to know, Thanks.

  412. Stephanie Poole on February 26, 2020 at 8:41 am

    I learned that RESP are not covered and that only GIC investments are covered.

  413. Amy Bond on February 26, 2020 at 8:51 am

    Great information ! I was very surprised to learn that 43 Canadian banks have failed.

  414. bojac on February 26, 2020 at 8:53 am

    Last Cdn financial institution to fail was in 1996. From CDIC website:

    “On June 4, 1996, about 2,600 Canadians discovered that their savings were not immediately available from their financial institution. They had entrusted a total of $42 million in deposits to Calgary-based Security Home Mortgage Corporation, which had closed its doors for good. The news must have momentarily sent a shiver of fear through each of its clients. Fortunately, this failed financial institution was a member of the Canada Deposit Insurance Corporation (CDIC) so customers’ eligible deposits were protected up to $60,000, per separate insured category.”

  415. jeff on February 26, 2020 at 8:55 am

    It was interesting to be that RESPs and RDSPs weren’t covered but goodTo know they will be starting next April.

  416. Theresa on February 26, 2020 at 9:00 am

    Didn’t know that $100,000 for each multiple types of savings are covered by CDIC.

  417. Mike on February 26, 2020 at 9:04 am

    Great public services like this make Canada a desirable place to live and work. It’s good to look out for one another ! Thank you !

  418. wsiemens on February 26, 2020 at 9:07 am

    learned that 43 banks have failed

  419. John Kennedy on February 26, 2020 at 9:32 am

    Had no idea there had been that many bank failures

  420. Edward Miller on February 26, 2020 at 9:35 am

    Thanks for the valuable information. Good to know that RRSPs and TFSAs are covered by the CDIC.

  421. Sandra Cairns on February 26, 2020 at 10:02 am

    That 43 banks have failed since CDIC was introduced surprised me. Thanks for all the great information!

  422. Sharon Travis on February 26, 2020 at 10:24 am

    GOOD TO KNOW!

  423. Patrick B. on February 26, 2020 at 10:42 am

    it’s awesome to know that deposits up to $!00000 are covered!

  424. Atera Amburn on February 26, 2020 at 10:43 am

    I learned great foreign currency is not covered

  425. Dot Mann on February 26, 2020 at 10:44 am

    The tax free savings account are a big help at tax time

  426. Carolle H on February 26, 2020 at 10:55 am

    I surprise , I did better then I was thinking on that quiz , I learned that CDIC protects up to $100,000

  427. Dennis Beierbach on February 26, 2020 at 11:04 am

    Stocks, Bonds, and Mutual Funds are not covered by CDIC!

  428. Colin Beierbach on February 26, 2020 at 11:04 am

    That Stocks, Bonds, and Mutual Funds are not covered by CDIC!

  429. Laura Beierbach on February 26, 2020 at 11:06 am

    Stocks, Bonds, and Mutual Funds are not covered by CDIC! – I always research…

  430. sarah collier on February 26, 2020 at 11:09 am

    I had no idea so many banks had failed in canada, Great to see this one offering so much and doing so well.

  431. Neil Miller on February 26, 2020 at 11:18 am

    I learned CDIC will soon be covering US dollar accounts!

  432. Diana Ratz on February 26, 2020 at 11:27 am

    I knew most of this, thanks to playing the CDIC travel quizzes over the past year! Great way to keep aware of important information. The upcoming changes is new information to me – thanks for providing easy to digest info about this topic.

  433. Penny Downing on February 26, 2020 at 11:39 am

    I didn’t know my son’s RDSP wasn’t covered, but I am glad to learn it will be soon.

  434. Peter Sewerniuk on February 26, 2020 at 12:00 pm

    Interesting to know we are covered up to 100K,

  435. Alison Braidwood on February 26, 2020 at 12:11 pm

    I recently learned that it was $100,000 per account. Good to know for when I win Lotto Max, lol.

  436. Lisa S. on February 26, 2020 at 12:23 pm

    Good info to know.

  437. Melanie D on February 26, 2020 at 12:35 pm

    I was unaware that foreign currencies weren’t covered by CDIC. Luckily, I learned they will be on April 30, 2020!

  438. Richard on February 26, 2020 at 12:41 pm

    Im glad to know we have coverage for our money and soon investments in savings plans.
    When you think about it we should not pay for a failure of an institution and glad to know CDIC is there when needed.

  439. bill phillips on February 26, 2020 at 12:42 pm

    Good information to know.

  440. Dave Bensette on February 26, 2020 at 12:43 pm

    Thanks for the opportunity!!
    Great info to know!!

  441. kyle rogerson on February 26, 2020 at 1:00 pm

    Fantastic info on CDIC that I wasn’t aware of!

  442. Nicholas on February 26, 2020 at 1:04 pm

    43 banks have failed since CIDC inception

  443. christina cichon on February 26, 2020 at 1:04 pm

    Thank you for the education!

  444. Joesph Howell on February 26, 2020 at 1:10 pm

    Its always great to get information regarding finance the more you know the better you can navigate the often confusing world of personal finances.

  445. Nick on February 26, 2020 at 2:13 pm

    Thanks for the info! Lot of new information here for me and was a good read.

  446. Jen M on February 26, 2020 at 2:16 pm

    I learned that there will be coverage for longer term GICs.

  447. Amy M on February 26, 2020 at 2:16 pm

    So glad to learn more about what CDIC covers, I have learned a lot from your post as well as their current trivia game! I am especially glad to hear that next year Registered Education Savings Plans (RESP) will be covered! Gives me such peace of mind!

  448. CHERYL HAGEL on February 26, 2020 at 2:55 pm

    Thanks for the info

  449. Wayne S on February 26, 2020 at 2:55 pm

    US dollar deposits will start to be covered on April 30th, 2020, which is awesome since I am paid in USD and don’t always convert the funds right away!

  450. Effie on February 26, 2020 at 3:03 pm

    Interestingly enough, I learned something new and good to know!. Although foreign currencies are currently not covered by CDIC, that all changes come April 30th, 2020 when they will be protected. The same $100,000 limit per category still applies and your foreign currency must be deposited at a CDIC member.

  451. terri broad on February 26, 2020 at 3:43 pm

    great info. thanks for sharing

  452. Deanna on February 26, 2020 at 4:22 pm

    Thanks for all the information!

  453. Kat Derksen on February 26, 2020 at 4:37 pm

    Great info. Some I was not aware of!

  454. Sandra F. on February 26, 2020 at 4:46 pm

    I learned that CDIC covers TFSA and RRSP accounts which is great.

  455. Susan Norwick on February 26, 2020 at 5:42 pm

    It was all new to me!

  456. ANNA NGO on February 26, 2020 at 5:54 pm

    Thanks to this short but detailed post, we’ve learned more about how we are covered and be more confident. Thank you

  457. Ken Willie on February 26, 2020 at 5:59 pm

    Write-up is very clear and timely.

  458. Mark W on February 26, 2020 at 6:01 pm

    Thanks for the info, I now know that RESPs are not covered by CDIC

  459. Paul Astles on February 26, 2020 at 6:16 pm

    I knew that except the number of banks. Though it’s still nice to reaffirm things.

  460. Sandra Lebeau on February 26, 2020 at 6:34 pm

    Thank you, so it’s true you can teach an old dog new tricks! I didn’t know 75% of this stuff nor did my family so we are all up to date now. I also did some more reading very interesting and again thanks for sharing.

  461. Jennifer Power on February 26, 2020 at 6:52 pm

    I was interested to know that 43 banks have failed. But I’m happy to know that I’m covered $100,000 in each category.

  462. Maureen Liz Beisel on February 26, 2020 at 6:57 pm

    Happy to know that one is covered with $100,000 in several categories!

  463. Jess Mace on February 26, 2020 at 6:58 pm

    Great information, thanks!

  464. Martin Jurak on February 26, 2020 at 6:59 pm

    I learned that starting April 30, 2021, RESP and RDSPs will be covered by CDIC. I also did not know that 43 banks have failed since CDIC was introduced.

  465. Brenda on February 26, 2020 at 7:04 pm

    A wealth of previously unknown knowledge in one article!!

  466. Cathy Balogh on February 26, 2020 at 7:16 pm

    Thanks for the info and the chance to win.

  467. Mary Danieli on February 26, 2020 at 7:42 pm

    It’s good to know that my money is protected thanks to the CDIC.

  468. Cassandra Struke-Conrad on February 26, 2020 at 8:02 pm

    I didn’t realize how many banks had failed since the start of the CDIC

  469. Susan Stirling on February 26, 2020 at 8:09 pm

    How great to learn that deposits in other currencies will be covered and also, RESP’s. so important to us

  470. Tony on February 26, 2020 at 8:14 pm

    Lots of great information

  471. Kathie on February 26, 2020 at 8:15 pm

    Thank you for all the great tips

  472. Steph on February 26, 2020 at 8:48 pm

    Appreciate the updates! I didn’t know they’d be covering foreign deposits as of April 30th, 2020. Will have to start saving some US cash in savings accounts instead of my current cookie jar system 🙂

  473. Jaime on February 26, 2020 at 9:41 pm

    Never knew GICs were covered.. good to know 🙂

  474. Nicole on February 26, 2020 at 10:02 pm

    I learned that 43 banks have failed since CDIC was introduced.

  475. Tracy D on February 26, 2020 at 10:02 pm

    I honestly didn’t know we had protection through CDIC…because now I know we don’t have to pay for it!

  476. Anita d on February 26, 2020 at 10:12 pm

    I learnt that US funds will soon be covered.

  477. Holly S on February 26, 2020 at 10:13 pm

    Great to learn all this information!

  478. Kathryn Kerker on February 26, 2020 at 10:19 pm

    I learned that CDIC covers TFSA and RRSP

  479. Valerie Gibson on February 26, 2020 at 10:19 pm

    I learned that Guaranteed Investment Certificates are covered.

  480. Lauren Makaryk on February 26, 2020 at 10:39 pm

    i was surprised at the number of failed banks

  481. Theresa C. on February 26, 2020 at 10:41 pm

    I learned that although 43 Canadian banks have failed since CDIC was introduced, not one dollar was lost by consumers!

  482. Samuel on February 26, 2020 at 11:14 pm

    Nice to learn about the coverage for foreign currencies as well

  483. Mary P. on February 26, 2020 at 11:37 pm

    I learned about some beneficial changes upcoming to the CDIC program on April 30th.

  484. lindsay dwarka on February 26, 2020 at 11:50 pm

    i didn’t really know anything about CDIC. i was surprised to learn that RDSPs aren’t covered.

  485. Lee Anderson on February 27, 2020 at 12:18 am

    I learned that there are over 80 members!

  486. Mitchell Schmidt on February 27, 2020 at 3:43 am

    I knew most of these things but always forget which investments are covered!

  487. Marilyn Legault on February 27, 2020 at 4:31 am

    Nice to know that no Canadian banks have failed since CDIC was introduced. I like knowing my money is safe.

  488. Laurent Legault on February 27, 2020 at 6:08 am

    It’s good to know what investments are covered by insurance.

  489. Anmol on February 27, 2020 at 6:13 am

    CDIC for the win.

  490. Sharon Thurston on February 27, 2020 at 7:24 am

    It is wonderful to know that each bank account, Savings, Chequing, TFSA and joint have $1000,000 in insurance protection without costing the bank client any premium for the coverage.

  491. R Schmidt on February 27, 2020 at 7:26 am

    Good to know about the upcoming changes re: protection of foreign currency deposits.

  492. Lynne M on February 27, 2020 at 8:06 am

    I had no idea that CDIC protects up to $100,000 (including principal and interest) per deposit category. This is very helpful to know. Thanks for the information and the chance to win a prize!

  493. Sharon Salsberg on February 27, 2020 at 8:38 am

    It is scary to think that you put your trust (AND your money) in the bank and then you could lose it all. Thank you CDIC.

  494. Jody Tulloch on February 27, 2020 at 8:52 am

    Vacation severely needed. I would be happy to win and travel via Air Canada!

  495. miranda on February 27, 2020 at 9:08 am

    Learned about the changes coming in 2021

  496. Natalie Lebeau on February 27, 2020 at 10:57 am

    Wow! I couldn’t believe my eyes seeing how many banks have failed. My financial future and security are important to me. I have children with developmental disabilities and their future is my happiness. I need to feel like I can trust my bank with my assets. Thank you for this information. 🙂

  497. Ruth Campbell on February 27, 2020 at 11:18 am

    Good info!

  498. tania on February 27, 2020 at 11:40 am

    Guaranteed Investment Certificates are covered by CDIC!

  499. Emily on February 27, 2020 at 12:13 pm

    Physical branches covered have a purple sticker. GICs, RRSPs and TFS are covered and your best bet for investments.

  500. John on February 27, 2020 at 12:34 pm

    Valuable information, thanks!

  501. Lauren on February 27, 2020 at 12:59 pm

    Thanks for this info CDIC!

  502. Julie F on February 27, 2020 at 1:04 pm

    I was shocked to read how many financial institutions have failed

  503. Kay school on February 27, 2020 at 1:07 pm

    Thanks for the valuable information. Thanks for the chance.

  504. Norm B on February 27, 2020 at 1:27 pm

    very informative

  505. Tanis on February 27, 2020 at 1:27 pm

    I didn’t know what types of accounts were covered so that’s great to know, thanks!

  506. cathy erdle on February 27, 2020 at 1:29 pm

    I’m so relieved to learn that Oaken Financial is covered by the CDIC through their home company! This is something I always meant to check, as we have deposits with them. I will look for the purple CDIC logo before making other investments.

  507. Veronica on February 27, 2020 at 1:52 pm

    Wow learning that 43 banks have failed is pretty incredible!

  508. Heather Ritz on February 27, 2020 at 2:31 pm

    Glad to hear GICs are covered

  509. joanna on February 27, 2020 at 2:59 pm

    Happily surprised to hear that foreign currency, esp. US$, will be covered by the CDIC rules as well

  510. Theresa A. on February 27, 2020 at 3:01 pm

    It’s reassuring to know that CDIC is in place in case there is ever a need. And it’s good to know just what is covered. Thanks for the great article.

  511. Elaine Douglas on February 27, 2020 at 3:29 pm

    its comforting to know that US $ will be covered by the cdic

  512. paula ritchie on February 27, 2020 at 3:35 pm

    I learned that I should check to see if my credit union is a member of the CDIC

  513. Jennifer Kitt on February 27, 2020 at 3:46 pm

    I actually knew nothing about the CDIC so this was really interesting! I’ll definitely share what I’ve learned (every topic covered). Thank you for the information!

  514. Janet M on February 27, 2020 at 4:25 pm

    Goo info. I didn’t know stocks, bonds and mutual funds are not covered by CIDC.

  515. KIm on February 27, 2020 at 4:32 pm

    Good information! Hard to believe that 43 banks failed! CDIC sure takes the worry for us !

  516. Diana Johnson-Santos on February 27, 2020 at 4:55 pm

    Surprised that 43 banks have failed but, grateful for the CDIC coverage @ my bank!

  517. Trevor Ens on February 27, 2020 at 5:30 pm

    Thanks for the information!

  518. Linda Klages on February 27, 2020 at 5:33 pm

    THanks, I’ve played Rain or Shine Financial CHallenge and we would love an Air Canada vacation.

  519. Laura on February 27, 2020 at 5:33 pm

    I can check the CDIC website to see if my financial institution is a member of CDIC

  520. Dennis on February 27, 2020 at 5:34 pm

    One may check the CDIC website to see if my financial institution is a member of CDIC

  521. Colin Beierbach on February 27, 2020 at 5:35 pm

    I can check the CDIC website to see if my financial institution is a member of CDIC

  522. Maritess S on February 27, 2020 at 6:28 pm

    I learned that CDIC coverage is per category and not per person.

  523. Jody on February 27, 2020 at 7:09 pm

    I totally thought that foreign currency accounts were covered!! Good to know they are not!

  524. Terry on February 27, 2020 at 7:55 pm

    I didn’t realize that the coverage was as extensive as it is

  525. Dale on February 27, 2020 at 8:14 pm

    its good that USA currencies will soon be covered by CDIC in aoril..

  526. Rod Weir on February 27, 2020 at 8:14 pm

    didn’t know about foreign currency

  527. Dale Ben on February 27, 2020 at 10:01 pm

    I did not know the GIC’s were covered by the CDIC and also the Tax Free Savings Account- that is awesome!

  528. Linda on February 27, 2020 at 11:19 pm

    Great easy-to-read summary! Thanks

  529. Doug Eighteen on February 27, 2020 at 11:36 pm

    Glad to know my (small) fortune…is protected. LoL

  530. nancy stokell on February 27, 2020 at 11:43 pm

    I did not know that banks had failed!!

  531. john stokell on February 27, 2020 at 11:44 pm

    Banks failed. wow, I did not know that.

  532. lori stokell on February 27, 2020 at 11:46 pm

    Well, I have to be honest; i knew nothing about CDIC coverage before today.

  533. dean peterson on February 27, 2020 at 11:46 pm

    I did not know that 43 banks had failed!!

  534. Michele Calder on February 28, 2020 at 12:01 am

    43 bank failures seems really high!

  535. Bruce Turnbull on February 28, 2020 at 12:47 am

    Knew most but not the 43 failures. Wow.

  536. Wynn Quon on February 28, 2020 at 1:23 am

    I learned that RESPs aren’t covered until next year!

  537. Kelvin on February 28, 2020 at 1:27 am

    $100k coverage limit!

  538. SD on February 28, 2020 at 1:35 am

    THANKS SO MUCH

  539. Mireille F on February 28, 2020 at 7:50 am

    thank you for the Information

  540. melissa nagle on February 28, 2020 at 8:13 am

    Amazing facts , thanks for the education!

  541. Patrice Hall on February 28, 2020 at 9:10 am

    Thanks for the information on this.

  542. Clare O'Brien on February 28, 2020 at 10:36 am

    I learned that foreign currencies will be covered by CDIC starting in April!

  543. Doreen Lamoureux on February 28, 2020 at 10:52 am

    Definitely great information. Learnt quite a few things today.

  544. Janice Cournoyer on February 28, 2020 at 11:45 am

    Some interesting information. some new to me. thanks you!!

  545. Danella on February 28, 2020 at 11:57 am

    What type of investments are covered by CDIC?–now I know

  546. Elaine on February 28, 2020 at 1:38 pm

    I learned that the $100,000 insurance is not per person but it is spread over 7 accounts for each person.

  547. Dennis on February 28, 2020 at 1:39 pm

    I learned that the $100,000 insurance is not per person – it is spread over 7 accounts for each person.

  548. Laura Beierbach on February 28, 2020 at 1:40 pm

    The $100,000 insurance is not per person but it is spread over 7 accounts for each person.

  549. Colin on February 28, 2020 at 1:41 pm

    The $100,000 insurance is not per person – it is spread over 7 accounts / person.

  550. Wayne Couzens on February 28, 2020 at 2:07 pm

    knowing what your money is doing is so important in making financial decisions

  551. Dawn M on February 28, 2020 at 6:44 pm

    43 banks have failed since CDIC has been introduced and not one dollar under CDIC protection was lost to these failures.
    Good to know there is protection out there for those of us who have our money in banks.

  552. Lynette Willie on February 28, 2020 at 7:14 pm

    I learned that up to $100,00 is covered more than once in the different catergories. Thats great news!

  553. Carol W. on February 28, 2020 at 7:35 pm

    I learned that foreign currency accounts will be covered after April 30, 2020

  554. Ronald Baelde on February 28, 2020 at 7:39 pm

    This is great information about 100000 which is so important at time when the market is crashing!!

  555. Betty Q. on February 28, 2020 at 9:08 pm

    I learned that U.S. dollar accounts will be covered after April 30, 2020.

  556. Sepideh Mahbobi on February 28, 2020 at 9:20 pm

    I didn’t know that Canadian banks could fail. I wasn’t worried and now learning about CDIC, I feel even more optimistic about the whole process. The next time I go to the bank, I’ll be looking for the big purple CDIC sticker. Thank you for all the useful information.

  557. Janice on February 29, 2020 at 12:16 am

    Thank you for the helpful information! It is good to know about the upcoming changes.

  558. Janet H on February 29, 2020 at 12:53 am

    Nice to feel so secure about my money.

  559. Debora Smaldon on February 29, 2020 at 2:52 am

    Thank you for all the information on CDIC and how my money is secure I appreciate that

  560. Su L. on February 29, 2020 at 4:05 am

    Foreign currencies are not covered currently. Great update on upcoming CDIC changes for all consumers!

  561. Evelyn on February 29, 2020 at 7:53 am

    great info Thank you

  562. Lisa Nelson on February 29, 2020 at 10:19 am

    I learned that the CDIC coverage limit is $100K.
    thanks for the info.

  563. Steven Jemson on February 29, 2020 at 11:45 am

    Great info especially about how much is covered per account $100,000 in 7 types of accounts.

  564. Josh S on February 29, 2020 at 12:00 pm

    I learned that 43 banks have failed. I am even more thankful for CDIC now!

  565. Edward on February 29, 2020 at 12:18 pm

    full insurance coverage and re-imbursement up to $100,000 per account

  566. Paul Meyette on February 29, 2020 at 1:02 pm

    CDIC is great insurance coverage to have. It is wonderful to see that it will expand insurance coverage to cover US dollar accounts.

  567. Daryl Anderson on February 29, 2020 at 1:12 pm

    7 different categories are covered up to 100k

  568. James on February 29, 2020 at 1:22 pm

    I learned about coverage for foreign currencies

  569. JJ on February 29, 2020 at 1:28 pm

    43 banks have failed

  570. Paul Brennan on February 29, 2020 at 1:39 pm

    Learned that GIC’s are covered but not in a RDSP account. Great information

  571. Paul A on February 29, 2020 at 2:04 pm

    Good to know foreign currencies are not covered.

  572. Tammy Warawa on February 29, 2020 at 2:18 pm

    I never knew $100000 was covered…or that 43 banks have failed. At least there is a backup plan here in Canada unlike other places.

  573. Jennifer Wong on February 29, 2020 at 2:21 pm

    I learned that CDIC protects up to $100,000 (including principal and interest) per deposit category and that there’s 7 categories total! I didn’t know that before!

  574. Christian Lloyd-Kohls on February 29, 2020 at 2:38 pm

    I feel safer knowing my financal institution uses CDIC. Confidence in my accounts is paramount.

  575. Michelle Hughes on February 29, 2020 at 2:40 pm

    I was unaware that my TFSA was protected. Very good to know!

  576. Jennifer on February 29, 2020 at 2:55 pm

    Very interesting – thanks for sharing! I had no idea that we had so many institutions that were covered by CIDC, let alone that so many had failed over the past many decades! I’m also surprised to see that they will cover U.S. accounts as of later this year, as long as they’re with a member institution. Maybe that’s a nod to how many of us do business with the U.S.!

  577. Jen on February 29, 2020 at 2:55 pm

    Had no idea that there are changes coming to CDIC coverage – this is all good news!

  578. Maria on February 29, 2020 at 2:57 pm

    I have a question …. Scenario (imaginary): I have more than $100,000 in a cash/GIC RRSP in Bank A. Would I then need to open another RRSP account in Bank B and transfer the amount over $100K from Bank A to Bank B in order to be protected/covered by CIDC in both banks?

  579. Brent Hartz on February 29, 2020 at 3:03 pm

    You forgot to mention that credit union are also insured with no maximum amount unlike banks that are insured through CDIC where the maximum per account is 100000.00. After years in the stock market and getting close to retirement I have totally lost my appetite for risk. All the experts seem to lean toward the long term if you are invested in equities but short term in can sure be hard to stomach when you see your capital dwindle for whatever reason there is at that time. We are 100% gic and wake up every morning not worrying about what is happening somewhere in the world that we have no control over. On a accounts up to a hundred thousand we take monthly interest payments as to keep it all insured

  580. Kim C on February 29, 2020 at 3:35 pm

    What I learned was that CDIC coverage is changing. Good to know.

  581. Ginette Holland on February 29, 2020 at 3:58 pm

    I learned 43 banks have failed since CDIC was introduced and what changes are coming

  582. Marilyn Erickson on February 29, 2020 at 4:01 pm

    Thanks for the valuable info on CDI. I will always look for the purple stickers now wherever I bank! It’s great to know that my deposits and GIC’s are protected! THANKYOU!

  583. Ian on February 29, 2020 at 4:28 pm

    Good to know that RESPs and RDSPs will be covered and that USD accounts are not covered. Thanks for the educational quiz.

  584. Manish Shah on February 29, 2020 at 4:30 pm

    So will US$ deposits at CDIC. member Financial Institutions be covered under the new rules?

  585. Danielle on February 29, 2020 at 5:06 pm

    I learned that changes coming to CDIC include covering guaranteed investments longer than 5 years.

  586. Dulcie Verduyn on February 29, 2020 at 5:30 pm

    I learn that CDIC only covers Guaranteed Investment Certificates.

  587. Farley Jones on February 29, 2020 at 6:34 pm

    Didn’t realize that my investments weren’t covered (save for GICs). Good to know!

  588. Tammiko Litowitz on February 29, 2020 at 6:41 pm

    I learned that Registered Education Savings Plans (RESP) and Registered Disability Savings Plans (RDSP) aren’t covered, but will be the end of April, 2021… better late than never.

  589. Dal legault on February 29, 2020 at 7:50 pm

    Thanks for the info

  590. Bill on February 29, 2020 at 7:54 pm

    Very valuable info. Thanks!

  591. Sandra Sharpe on February 29, 2020 at 7:56 pm

    It’s great to know that, as of April 30, 2020…..CDIC will cover GIC’s that are invested for more than 5 years!!

  592. Joanne Adams on February 29, 2020 at 10:01 pm

    good to know gic’s are covered.

  593. Imelda L. on February 29, 2020 at 10:55 pm

    WOW!!! All new to me except the $100,000 coverage per account category. Thanks so much for all the info!

  594. Craig on February 29, 2020 at 11:03 pm

    Nice to see expanded CDIC coverage for foreign currency deposits.

  595. Christina on February 29, 2020 at 11:06 pm

    Glad to hear resps will now be covered as well as US gics

  596. Michelle Lambert on February 29, 2020 at 11:28 pm

    Good information to have. Thanks!

  597. Diana on March 1, 2020 at 1:05 am

    So GICs are covered, but mutual funds are NOT covered.

  598. Eric on March 1, 2020 at 8:23 am

    foreign currencies will soon be covered by CDIC.

  599. Sheila Vitelli on March 1, 2020 at 8:56 am

    Great info to know. Thanks

  600. Lana Hohn-Martens on March 1, 2020 at 10:04 am

    Humm…I was somehow under the assumption the the amount was $200k. Good info!

  601. Barb S on March 1, 2020 at 10:52 am

    Glad to hear that foreign currency will soon by covered.

  602. Francis on March 1, 2020 at 1:13 pm

    Thanks for the information about CDIC

  603. C.Suzanne on March 1, 2020 at 1:23 pm

    Thanks, I got one wrong. Never can get too much education when it comes to personal finance

  604. Ryan on March 1, 2020 at 2:34 pm

    I’ve heard of the CDIC before, but didn’t really know the specifics of what they cover. Thanks for the info about the different accounts covered. As well as only GICs being covered, but not stocks or mutual funds.

  605. Mary T on March 1, 2020 at 2:57 pm

    Good to hear about Expanded coverage of eligible deposits held in foreign currencies

  606. Mathew K on March 1, 2020 at 3:51 pm

    Thanks – learned about the $100K limit, so it’s a good idea to have accounts at different institutions.

  607. Paras on March 1, 2020 at 3:54 pm

    Thanks for the post! Look forward to all that future travelling with the gift card! 🙂

  608. Becky Love on March 1, 2020 at 4:08 pm

    It’s good to know foreign currency will soon be covered

  609. trusinak rusinak on March 1, 2020 at 4:13 pm

    I didn’t realize CDIC offered so much!

  610. Chris Blake on March 1, 2020 at 5:12 pm

    did not know that RESPs were not covered. Glad this is going to change. thank you for the info.

  611. DONNA MCCARTHY on March 1, 2020 at 5:19 pm

    I never think of a bank failing, but after having lost so much of my retirement investments in the past two weeks, I guess I should!

  612. Stephanie Black on March 1, 2020 at 5:32 pm

    I learned that RESPs and RDSPs are not covered.

  613. John P on March 1, 2020 at 6:57 pm

    The fact that RESP’s aren’t covered.

  614. Lesley Miller on March 1, 2020 at 7:23 pm

    I learned that RESP’s and RDSP’s are not covered by CDIC. Also was suprised to learn 43 banks in Canada have failed.

  615. Nicole C on March 1, 2020 at 8:14 pm

    Hard to believe that 43 banks failed CDIC, and happy to find out that more investment types will be added in April this year and next. Thanks

  616. Alison K on March 1, 2020 at 8:51 pm

    Good information including CDIC also has an online estimator to help you calculate my coverage. Thanks for the tips.

  617. Andrew on March 1, 2020 at 8:55 pm

    RESPs not being covered

  618. ALICIA MILLETTE on March 1, 2020 at 9:07 pm

    I learned that 43 banks have failed since its inception and that RESPs will be covered soon

  619. Michelle Stevens on March 2, 2020 at 5:40 am

    I find it very surprising that so many banks have failed in Canada!

  620. Amanda I on March 2, 2020 at 7:02 am

    We recently became clients and my husband and I were unaware of what protection CDIC offered ys. I now know how much coverage we have personally for our accounts. Thanks for the information, lots of stuff learnt!

  621. Kay Abbott on March 2, 2020 at 8:45 am

    shocked to learn that there has actually been 43 Canadian banks that have failed.

  622. Chantal Cloutier on March 2, 2020 at 8:48 am

    I didn’t know that RESP accounts weren’t covered by CDIC. Glad to hear that is going to change.

  623. Caroline McLean on March 2, 2020 at 8:56 am

    Thanks for the info

  624. Mary on March 2, 2020 at 10:00 am

    CDIC does a great job in educating the public!

  625. nella on March 2, 2020 at 10:26 am

    learning about the $100,000 limit was good

  626. Susan Chapman on March 2, 2020 at 11:44 am

    Two key points here. The fact that foreign currency (for example USD) will soon be covered (April 30th) by CDIC along with RESPs. Great moves to protect financial service consumers.

  627. Kevin Stevens on March 2, 2020 at 12:05 pm

    I learned that a lot of Canadian banks have gone under and I didn’t realize it was that many.

  628. Brenda Prevost on March 2, 2020 at 12:48 pm

    CDIC a crown corporation that protects Canadians by providing deposit insurance since 1967 Thank you

  629. LR Cumming on March 2, 2020 at 1:41 pm

    Great to know CDIC covers lots – and good reminder of what they do not cover!

  630. Matthew on March 2, 2020 at 1:55 pm

    I found all of the facts very informative!

  631. Spencer Sanchez on March 2, 2020 at 1:56 pm

    I didn’t now that Canada’s banking system had a fail-safe. It’s make me happy to know my money is safe.

  632. Alan Lemberg on March 2, 2020 at 2:16 pm

    The date for question #4 as I already knew about the others from the CDIC facebook page and the quiz contests they have been running in the past

  633. Nicolas C on March 2, 2020 at 2:51 pm

    I have learned that Mutual Funds aren’t covered by CDIC!

  634. Brad S on March 2, 2020 at 2:55 pm

    I learned that foreign currencies will soon be covered by the CDIC

  635. Erin S on March 2, 2020 at 3:15 pm

    I didn’t realize that stocks, bonds & mutual funds were not covered by CDIC. But it is good to know that 7 categories exist, so to meet CDIC coverage requirements it helps to diversify.

  636. sara zacharias on March 2, 2020 at 4:34 pm

    Wow I had no idea that 43 banks have failed since CDIC was first introduced.

  637. Megan on March 2, 2020 at 5:34 pm

    I think it’s a great change that other currencies will soon be covered!

  638. Sarah Eisman on March 2, 2020 at 6:51 pm

    Thank you for the info!

  639. Monica S on March 2, 2020 at 7:50 pm

    Thank you for the information!

  640. lorra bromley on March 2, 2020 at 9:11 pm

    Thanks very much for all your updated information as it can be confusing, I really thought RRSP’s would be covered,

  641. Christine on March 2, 2020 at 9:19 pm

    I really like that CDIC coverage will soon cover USD. I’m going to research whether the coverage in US currency would be $100k USD or the equivalent of $100k CAD in USD.

  642. Phillip Seres on March 2, 2020 at 9:41 pm

    That’s really great to know

  643. steve on March 2, 2020 at 9:51 pm

    Was shocked to learn that 43 banks have failed in Canada since CDIC A was introduced.

  644. Chris on March 2, 2020 at 9:55 pm

    Quite honestly I did not know much of anything about the CDIC up until this point so this is pretty informative.

  645. Kathy on March 3, 2020 at 12:13 am

    I have been playing CDIC’s Rain or Shine Financial Challenge and by choosing wrong answers I have learned a great deal about CDIC

  646. Deborah on March 3, 2020 at 7:39 am

    I learned that foreign currencies will be covered as of April 30, 2020.

  647. Robert O. Conroy on March 3, 2020 at 7:48 am

    I too didn’t know the number of banks that had failed. I am really pleased at the upcoming changes.

  648. William Harany on March 3, 2020 at 7:57 am

    I was surprised that I go so many correct. Yes, it is about time that the other register plans are also covered. Covering stocks, and mutual funds??? The plan would have been broke a long time ago — lol

  649. Tiffany on March 3, 2020 at 8:11 am

    Thanks for sharing, Barry! Surprised to see that CDIC doesn’t cover a lot of other finances, which is pretty scary since I thought I was protected as per their commercials…

  650. David Crawford on March 3, 2020 at 8:17 am

    I didn’t realize there had been 43 bank failures – which is contrary to the hype of the banking industry about the stability of the system

  651. Pierre Lessard on March 3, 2020 at 8:22 am

    WOW 43 BANKS WENT DOWN – HARD TO BELIEVE.
    IT IS UNFORTUNATE THAT CDIC IS NOT APPLICABLE TO ALL PROVINCES.

  652. Sylvie Cousineau on March 3, 2020 at 8:24 am

    I have learned something new today and i guess i will have to look seriously at my investments in order to protect them.

  653. Ramona Donaldson on March 3, 2020 at 8:37 am

    Great article, had no idea about most of this. 43 bank failures blows my mind!

  654. Jaclyn Law on March 3, 2020 at 8:44 am

    Thanks for this info!

  655. Heather Pendragon on March 3, 2020 at 8:56 am

    Barry…Kudos to you for sharing all this brilliant info. I had do idea I knew so little. Thanks for the quiz and allowing me to upgrade my skills. I was surprised to learn 43 banks had flopped. How many banks are NOT CDIC protected?

  656. Richard Schear on March 3, 2020 at 9:16 am

    I was shocked to learn that 43 banks have failed.

  657. Kathleen on March 3, 2020 at 9:28 am

    Great information! I had no idea about the failure numbers of the banks!

  658. Kendra Morrissey on March 3, 2020 at 9:37 am

    Interesting to find out that RESPs aren’t currently covered under CDIC. Surprising because people have been using it as a long-term savings vehicle for many over 20 years – apparently without the assurance that their money would be protected and available for withdrawal when their children are ready for post-secondary education.

  659. Dave on March 3, 2020 at 9:54 am

    This is something my children need to know

  660. Kali on March 3, 2020 at 10:04 am

    foreign currencies not currently covered, but will be as of April 20, 2020

  661. shawn on March 3, 2020 at 10:37 am

    Yes, everyone should know!

  662. Joan Brown on March 3, 2020 at 11:00 am

    Great information in this article. I learned that foreign currencies are currently not covered by CDIC, I didn’t realize that.

  663. Denise Johnson on March 3, 2020 at 11:45 am

    The number of bank failures is surprising.

  664. Christopher McGugan on March 3, 2020 at 11:48 am

    The things I’ve learned the most pertain to all the different aspect of getting mortgage, maintaining it properly, and finding out all sorts of information about how the CDIC protects Canadians when financial markets get crazy – lots of important information that everyone should know.

  665. William on March 3, 2020 at 12:30 pm

    I like the summary of CDIC coverage in plain English!

  666. Erin D on March 3, 2020 at 12:33 pm

    Was surprised to learn about 43 banks failing in Canada. Much higher than I thought.

  667. Patrick Walsh on March 3, 2020 at 12:34 pm

    I knew the CDIC existed but didn’t know about some of the specifics mentioned in the article. Thank you for the information.

  668. Rachel Molcak on March 3, 2020 at 12:44 pm

    I love learning more about investments!

  669. Raymond Richards on March 3, 2020 at 12:58 pm

    43 Banks have failed!

  670. Aynsley on March 3, 2020 at 1:02 pm

    Glad to see CDIC will cover foreign funds with Canadian institutions. I have US accounts and I’m happy those funds will be protected.

  671. Patricia Yarascavitch on March 3, 2020 at 1:05 pm

    GICS are covered by CDIC, thanks, good to know!

  672. Bobbie T on March 3, 2020 at 1:20 pm

    Well, after reading this article, I learned that the CDIC exists in the first place. Very good information. I will look for that purple sticker next time I’m at my bank!

  673. Andrew Ludlow on March 3, 2020 at 1:50 pm

    Thank you for the CDIC update. Good to have the most current information.

  674. Ryan Coleman on March 3, 2020 at 2:12 pm

    I had no idea foreign currency wasn’t covered until now. Great post!

  675. Dylan Mackay on March 3, 2020 at 2:15 pm

    I liked learning about what was covered. Thanks!

  676. D. AuCoin on March 3, 2020 at 2:27 pm

    I’m pleased to know that the existing 5 year maturity limit on covered deposits will be extended .

  677. Frank Blum on March 3, 2020 at 3:26 pm

    Excellent upgrade that foreign funds will be covered as of end of April, 2020 – glad they didn’t pick April 1 as the start date :).

  678. John on March 3, 2020 at 4:56 pm

    Very informative

  679. Judy Zilinski on March 3, 2020 at 5:54 pm

    Interesting to see the upcoming change to cover Foreign currency deposits. Will look forward to learning more about the changes.

  680. Barb on March 3, 2020 at 6:21 pm

    Great article. I was very surprised that 43 banks have failed in Canada and am very glad we have coverage. I knew about the coverage but did not realize different types of accounts were protected, like joint with various people or RRSP. RESP, etc I was surprised that travellers cheques were insured.

  681. May Fung on March 3, 2020 at 9:24 pm

    Good to know foreign currency deposits will soon be covered.

  682. Heather on March 3, 2020 at 10:12 pm

    I was surprised to hear how many bank failures there were.

  683. Branson Lo on March 3, 2020 at 10:43 pm

    A lot of interesting things I never knew that I probably should have

  684. Richard Lennon on March 3, 2020 at 11:47 pm

    Thanks for the information. I was surprised at the number of financial institutions that have failed. Thankfully, the CDIC was in place to protect deposits.

  685. christine on March 4, 2020 at 2:41 am

    I didn’t know that foreign currency was not covered

  686. Lee on March 4, 2020 at 8:09 am

    I was JUST reading up on this on the CDIC website… so I totally passed your quiz, haha:) Thanks for the post!

  687. Crystal on March 4, 2020 at 8:46 am

    Did not know CDIC does not cover investments other than GICs! Thank you for this post 🙂

  688. Kiki on March 4, 2020 at 9:09 am

    I didn’t know that there hasn’t been a bank that has failed since 1996
    It alleviates some of my fear to know that the threat isn’t that imminent

  689. Michelle on March 4, 2020 at 9:14 am

    Good info – will be asking my bank a few questions.

  690. Karen on March 4, 2020 at 11:05 am

    I would not have guessed 43 banks!

  691. Anne Morais on March 4, 2020 at 11:19 am

    Surprised to learn that 43 failed. Glad to hear that foreign dollars will be covered as the end of April. Very informative

  692. Kali on March 4, 2020 at 11:20 am

    I am covered up to 100K, and that foreign currencies are currently not

  693. Kyle on March 4, 2020 at 11:46 am

    Good to know CDIC coverage

  694. Yvonne Hiscoe on March 4, 2020 at 12:00 pm

    I realize now that mutual funds are not covered by CDIC

  695. Violet on March 4, 2020 at 12:04 pm

    This is great to know, I have never heard of this to be covered up to $100K. Glad my bank is a member.

  696. Valerie Hanlon on March 4, 2020 at 1:48 pm

    I had no idea what kinds of investments were insured by CDIC! Great information to know.

  697. Erin N on March 4, 2020 at 2:15 pm

    This is all such useful information for me! Thank you. I am kind of a dummy when it comes to investing 😛

    • S. Bellinger on March 4, 2020 at 8:20 pm

      I thought the coverage was higher, so this is very useful information. Thanks.

  698. Genevieve F on March 4, 2020 at 3:11 pm

    43 Canadian banks have failed since CDIC was introduced! I had no idea!

  699. Al on March 4, 2020 at 5:27 pm

    There is a $100,000 limit per deposit category

  700. Meagan on March 4, 2020 at 6:19 pm

    100K protected in each category covered by CDIC. Learning lots about CDIC via social media, thanks!!

  701. Ken Willie on March 4, 2020 at 7:20 pm

    Easy to read and factual write-up. Nice to see my US deposits will now be insured. I am assuming that will not be a separate category but added to savings and chequing deposits.

  702. Jan on March 4, 2020 at 8:13 pm

    Did not know 43 banks have failed since CDIC was created. Wow, times have changed, I hope.

  703. Arlene on March 4, 2020 at 9:27 pm

    This article was extremely interesting and I did learn a couple of facts I was not aware of, thank you.

  704. Arlene on March 5, 2020 at 3:08 am

    Great information and discovered a few things that I did not know. Thanks.

  705. Mervin S on March 5, 2020 at 9:39 am

    It is good to see that they are extending coverage to foreign currency accounts too, but I believe that the current $100,00 insured limit should be increased on all eligible accounts covered presently. When life circumstances change such as a death your options with any particular institution will now be limited. Seniors have enough problems without having to open accounts at other financial institutions to maintain CDIC coverage!

  706. Eric on March 5, 2020 at 2:09 pm

    Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC.

  707. Julie on March 5, 2020 at 2:17 pm

    I’m glad that as of April 30th CDIC coverage will no longer be limited to 5 year and under GICs, and will also cover foreign currency holdings. IMO, the insured amount should increased from $100,000 to $250,000.

  708. Debra on March 5, 2020 at 3:23 pm

    I’m surprised to learn that it’s only GICs that are guaranteed for up to $100,000 and NOT all investments .

  709. Simplicia Sanchez on March 5, 2020 at 4:44 pm

    It’s nice to know that my money is safe in the Bank of Nova Scotia and I will let my children know to check if their RESPs are safe with a registered CDIC member. Thank you!

  710. Colin Noden on March 6, 2020 at 6:01 am

    I’m glad to hear that the foreign currencies will be covered. We had an account but got rid of it as it was more trouble than it was worth.

  711. Alexa on March 6, 2020 at 8:30 am

    This is great! Thanks for the info. Didn’t realize they’d be covering foreign currencies soon.

  712. Mel Ashman on March 6, 2020 at 8:59 am

    Thanks for this article.
    I did not know that the limit was “up to $100,000”, that RESPs were covered, or that 43 banks have failed.

  713. Danella on March 6, 2020 at 12:04 pm

    Investment products such as bonds, mutual funds, stocks and cryptocurrency are not covered by CDIC

  714. Sue on March 6, 2020 at 2:53 pm

    Great info! Thanks

  715. Amoy Hugh on March 6, 2020 at 3:19 pm

    Although it is great to have the CDIC, I hope that I never need to use it

  716. An Hunter on March 6, 2020 at 6:22 pm

    GICs are covered by the CDIC. Good to know!

  717. Joe sixpack on March 6, 2020 at 9:25 pm

    CDIC wants you to keep your money in while the whole economy collapses, get your money out ASAP because you don’t know WHEN or HOW LONG it will be given back in. If you haven’t noticed the massive promotion in CDIC lately it’s because they know somethings about to drop.

  718. marc on March 7, 2020 at 6:58 am

    great info. did not know all this before

  719. Teresa on March 7, 2020 at 11:48 am

    Enjoy playing and learning what CDIC has to offer. Thanks for the opportunity!

  720. Patrick McNamara on March 7, 2020 at 12:19 pm

    Thanks for the information on CDIC coverage. Very informative.

  721. Jill Kenny on March 7, 2020 at 2:27 pm

    Super helpful to learn what is and what is not covered to protect our family finances

  722. Robert Armstrong on March 7, 2020 at 3:01 pm

    Thanks for the information about CDIC.

  723. kevin peepeetch on March 7, 2020 at 11:45 pm

    Great source of info!

  724. Karen Brailsford on March 8, 2020 at 1:36 am

    Very information – I was remembering the “old days” when the coverage was just $60,000. Glad that this was raised! Am also shocked about 43 banks failing, did not think that it could be that number. I think of Canada’s financial systems and institutions as VERY secure.

  725. Julie on March 8, 2020 at 7:08 pm

    I had learned about the foreign currency changes coming in April from Oaken Financial, but did not know further details, like cap. Thanks for sharing the information!

  726. Steph Westhaver on March 8, 2020 at 9:48 pm

    Good to know that foreign currency will also be protected under CDIC come April

  727. Patricia Vollman on March 9, 2020 at 10:28 am

    Wow 43 have gone out of business! Thanks for the info.

  728. Jill McDowell on March 9, 2020 at 2:02 pm

    Thanks for the info!

  729. Jackson on March 9, 2020 at 11:02 pm

    Surprised to see quite a few banks have failed in Canada.

  730. Faye on March 10, 2020 at 1:12 am

    Learned that foreign currencies up to a limit of $100,000 will be covered by CDIC starting April 30, 2020.

  731. sandra p on March 10, 2020 at 11:04 am

    What are some types of accounts covered by CDIC
    Tax-Free Savings Accounts and Registered Retirement Saving Plans
    Registered Education Savings Plans and Registered Disability Savings Plans

    Peace of mind knowing my investments are secure for my future.

  732. Dave B on March 10, 2020 at 1:07 pm

    Thanks for the info AND the great opportunity! You guys rock!!!

  733. Debra Pringle on March 10, 2020 at 2:20 pm

    Great to know that foreign currencies will be covered at the end of April for 100,000.

  734. Debbie D on March 10, 2020 at 6:30 pm

    Very informative. Nice to know that I am covered for $100,000 per account.

  735. Pat H on March 10, 2020 at 8:30 pm

    interesting about 43 bank failures

  736. Mark M on March 10, 2020 at 10:04 pm

    Good to know that U.S. currency will soon be covered.

  737. Beg on March 12, 2020 at 5:26 pm

    You are covered 100K per account

  738. Kimberly Saulnier on March 12, 2020 at 11:37 pm

    I was really surprised to hear that foreign currencies were not protected, especially given that these accounts can be in Canadian banks. Glad to hear the changes are coming! Thanks very much

  739. Paul M on March 13, 2020 at 7:14 am

    The CDIC covers GICs!

  740. Ming on March 13, 2020 at 6:58 pm

    It’s really useful to learn that CDIC protects up to $100,000 (including principal and interest) per deposit category. Great job!

  741. Linda on March 14, 2020 at 7:29 am

    It’s great to know that CDIC protects up to $100,000.

  742. Jonathan A on March 14, 2020 at 10:25 am

    43 banks have failed since CDIC was introduced

  743. Debbie on March 14, 2020 at 4:06 pm

    Didn’t realize only GIC’s are covered

  744. Yung L on March 14, 2020 at 7:56 pm

    Great to know that CDIC covers Tax-Free Savings Accounts & Registered Retirement Saving Plans investments

  745. Marcel Boudreau on March 14, 2020 at 8:09 pm

    I didn’t realize they covered different categories of accounts. Good to know.

  746. LisaM on March 15, 2020 at 6:49 pm

    I had no idea GICs and Mutual Funds were covered!

  747. Arlene G on March 16, 2020 at 7:32 am

    I didn’t know foreign currencies were not covered.

  748. Jason M on March 16, 2020 at 2:25 pm

    I didn’t realize that only Guaranteed Investment Certificates are covered and not others.

  749. Charlotte Brotschi on March 16, 2020 at 4:09 pm

    Very surprised about the 43 bank failures, scary.

  750. Nancy Sanchez on March 16, 2020 at 11:04 pm

    I am happy to see that my joint account with my spouse is also covered. That is great news!

  751. Dian Anderson on March 17, 2020 at 1:15 am

    We are so lucky to have this great Canadian banking system. But I didn’t know that 43 banks had failed

  752. Madonna Byrne on March 17, 2020 at 11:35 am

    $100,000 coverage. great.

  753. Shaf on March 17, 2020 at 5:20 pm

    I know now that stocks and bonds are not covered

  754. Tina A on March 18, 2020 at 2:00 am

    So useful I always thought it was 75 not 100, 000 coverage Thanks for the great info I shared on facebook and a tweet so usefu

  755. corrina on March 18, 2020 at 9:58 am

    I learned that registered Disability Savings Plans that are structured as a trust are covered. Thats great news!

  756. Jason Ngo on March 18, 2020 at 3:25 pm

    I never realized that bonds and stocks were not covered. Knowledge is power!

  757. Sandra Mcgugan on March 18, 2020 at 8:01 pm

    I didn’t know that GIC’s were covered!

  758. Edwin Sanchez on March 18, 2020 at 9:11 pm

    First of all, it’s amazing that there is this level of consumer protection. I’m glad my bank is covered by the CDIC (I doubled checked).
    Secondly, it’s so smart to cover RRSPs and TFSAs because we can’t have Seniors living on the streets because their life savings went up in smoke by a poorly run or corrupt bank.

  759. hope ryckman on March 19, 2020 at 9:45 am

    thank you for all that information! it is good to know about all the the features offered by CDIC !

  760. Linda Richter on March 19, 2020 at 3:19 pm

    It is nice to know that the small amount that I have in an American currency account will be safe too!

  761. Patsy on March 19, 2020 at 5:18 pm

    I learned to look for the big purple CDIC sticker displayed on bank doors!

  762. Michelle Hamilton on March 19, 2020 at 7:40 pm

    Great quiz! Thanks!

  763. Katie M on March 19, 2020 at 8:48 pm

    I learned that I am covered for $100,000 each per category.

  764. Neil Anderson on March 20, 2020 at 12:01 am

    Lots of info, Thank You

  765. Dana V on March 20, 2020 at 4:40 pm

    This was informative. Thank you.

  766. Tony C on March 20, 2020 at 11:16 pm

    Interesting information – I will look for a big purple CDIC sticker displayed on the bank’s door.

  767. Paulette G on March 20, 2020 at 11:18 pm

    Useful information for all investors, including seniors who might see CDIC coverage as an incentive to invest in GICs rather than more risky instruments like securities.

  768. DianeG on March 21, 2020 at 12:33 am

    I learned that 43 banks have failed since CDIC was introduced.

  769. ScottL on March 21, 2020 at 4:14 am

    It’s good to know what type of investments are covered by CDIC.

  770. Rhonda Prince on March 21, 2020 at 11:50 am

    Great Info! It’s reassuring to know my RRSP’s are covered

  771. Tyler Gabora on March 21, 2020 at 11:52 am

    It’s good to know my investments are safe

  772. Giordana Venturi on March 21, 2020 at 12:16 pm

    I learned that RESPs and RDSPs weren’t covered!

  773. Donna Doyle on March 21, 2020 at 2:01 pm

    Very interesting especially 43 banks have failed.

  774. Dylan Whittaker on March 21, 2020 at 4:27 pm

    I learned that resp and rdsp were not cover

  775. Nancy on March 22, 2020 at 6:45 am

    It’s great that CDIC covers $100,000

  776. Marina Ostromich on March 22, 2020 at 3:56 pm

    Great chance!

  777. Leona Bulgin on March 22, 2020 at 4:31 pm

    Very informative, i was not aware of all these situations. Thank you.

  778. BlessedTA on March 22, 2020 at 7:04 pm

    That Foreign currency is currently not covered by the CDIC.

  779. christine campbell on March 22, 2020 at 9:34 pm

    Reassuring to know that the CDIC covers $100,000

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