The two regimes
The Canada Deposit Insurance Corporation covers deposits held with its member institutions, banks and certain trust companies. The Autorité des marchés financiers administers the Quebec regime for institutions it authorizes, notably financial services cooperatives.
What is generally covered
Savings and chequing accounts, term deposits, and eligible GICs, within the limits and under the conditions specific to each regime — including requirements as to the currency and the term of the deposit.
What is not covered
Mutual funds, stocks, bonds, exchange-traded funds, and crypto assets are not deposits and are not covered by these regimes. Holding them in an account at a member institution changes nothing.
Categories multiply the protection
Limits apply per distinct deposit category — held personally, jointly, in trust, in an RRSP, in a TFSA, among others — and per member institution. One person can therefore be protected well beyond a single limit.
The multiple-brand trap
Several brands sometimes belong to the same member institution. Deposits then aggregate under a single limit. Verify the member institution, not the trade name.
Check before depositing
Both organizations publish their member lists and the limits in force. For a substantial amount, that check takes a few minutes and determines how to split across institutions.
No rate, price, or recommendation on this page. Amounts and limits change: verify them with official sources before deciding.