Tool · deposit safety
Is my money safe? Check CDIC and credit union coverage
Add each deposit, pick the CDIC member (or the brand you bank with) and the category. The tool groups them the way CDIC does — per member, per category — and shows what is protected and what is over the $100,000 limit. Below: a GIC split planner, where fintech apps really hold your money, and every province’s credit union insurance.
Your deposits
Coverage
| Member institution | Category | Limit | Deposits | Covered | Over limit |
|---|---|---|---|---|---|
| Canadian Imperial Bank of Commerce (via Canadian Imperial Bank of Commerce, Simplii Financial) | Own name | $100,000 | $120,000 | $100,000 | $20,000 |
| Canadian Imperial Bank of Commerce | TFSA | $100,000 | $60,000 | $60,000 | $0 |
| Canadian Imperial Bank of Commerce | Joint (Me + Sam) | $100,000 | $90,000 | $90,000 | $0 |
Canadian Imperial Bank of Commerce and Simplii Financial are names of the same CDIC member (Canadian Imperial Bank of Commerce), so they share one set of limits.
Estimate based on CDIC’s published rules; the member’s records decide actual coverage. Joint and trust coverage depend on the institution having each owner’s or beneficiary’s details on file. Saved only in this browser.
GIC split planner
CDIC’s $100,000 includes interest, so a GIC that starts at $100,000 goes over the limit as it grows. Enter what you want to place in each category and the GIC rate and term; the planner shows the largest principal per member that stays covered to maturity, and how many separate CDIC members you need.
| Member | What to hold there |
|---|---|
| CDIC member 1 | Own name $90,100 · TFSA $60,000 |
| CDIC member 2 | Own name $90,100 |
| CDIC member 3 | Own name $69,800 |
Pick members, not brands: Simplii shares CIBC’s limit and EQ Bank shares Equitable Bank’s, while Tangerine and Scotiabank, Home Bank and Home Trust (Oaken), Manulife Bank and Manulife Trust, and Peoples Bank and Peoples Trust are separate members with separate limits. Credit unions in BC, Alberta, Saskatchewan and Manitoba are insured by their province without a dollar limit.
Fintech apps and online banks: where your money is actually held
Fintech companies aren’t CDIC members. CDIC says their customers are protected only when money sits at a member in the customer’s name, or in a trust account with each beneficiary recorded. Here is what each company or brand says about its own structure, checked November 1, 2026.
| Brand and product | Who holds the money | Protection | Conditions |
|---|---|---|---|
| KOHO KOHO account (spending + Earn Interest / savings) | KOHO Financial Inc. (not a CDIC member; issues the prepaid Mastercard). Funds safeguarded with Peoples Trust; when Earn Interest is on, funds are placed in trust with one or more CDIC member institutions (not all named). | CDIC (trust deposits at CDIC members), only when Earn Interest is opted in: Up to $100,000 per beneficiary, per member institution; KOHO markets it as 'up to $100K' eligible | Must opt in to Earn Interest; KOHO accounts not earning interest are NOT CDIC-eligible. Trust coverage depends on KOHO meeting CDIC disclosure requirements. Crypto not covered. Source |
| Wealthsimple Wealthsimple Chequing (formerly Cash), individual and joint | Wealthsimple Payments Inc. (FINTRAC MSB; not a CDIC member) holds funds in trust in the primary holder's name at one or more undisclosed CDIC member institutions | CDIC (trust deposits): Up to $1,000,000 combined: $100,000 per beneficiary per member institution, funds spread across at least 10 CDIC members | Disclosure rules must be met; partner banks not disclosed (contractual). Joint chequing counted under the inviting/primary holder only. Funds settle with CDIC members one business day after appearing in the account. Balances over $1M not covered. Source |
| Wealthsimple Wealthsimple Savings account | Wealthsimple Investments Inc. (CIRO member) | CIPF (NOT CDIC): CIPF up to $1,000,000 on cash balances (dealer-insolvency protection, not deposit insurance) | Wealthsimple states Savings accounts aren't covered by CDIC; an account is covered by CIPF or CDIC, never both. Source |
| Wealthsimple Wealthsimple Registered Savings Account; Business chequing and Corporate Save | Held in trust with CDIC members (undisclosed) | CDIC (trust deposits): Registered Savings: up to $100,000 per beneficiary per category, combined across all Registered Savings Accounts. Business: combined $100,000 per business. | Not spread across multiple members like Chequing. Source |
| Neo Financial Neo Chequing and Neo Savings (trust-based accounts) | Neo Financial Technologies Inc. (Bank of Canada-registered payment service provider; not a bank or CDIC member). Funds held in Client Trusts at one or more CDIC-member Deposit-Taking Institutions chosen by the Trustee (not named). | CDIC (trust deposits): Up to $100,000 of funds held in trust for you at each Deposit-Taking Institution | Only funds in a Trust Account are eligible; in-transit funds (before settlement, or after a withdrawal is authorized) are not. Neo earnings eligible only once deposited to trust. Agreement says the account is not a deposit account. Neo support examples treat $100,000 as the eligible amount across Chequing + Savings combined. Source |
| Neo Financial Neo Everyday account and Neo High-Interest Savings (HISA) | Peoples Bank of Canada (deposit account in the customer's name; Neo is the service provider; card issued by Neo) | CDIC (Peoples Bank of Canada is a CDIC member): Standard CDIC: up to $100,000 per insured category at Peoples Bank of Canada | Aggregates with any other deposits you hold directly at Peoples Bank of Canada in the same category. The agreements themselves do not restate CDIC wording; Neo support says Everyday and HISA deposits up to $100,000 are eligible. Source |
| EQ Bank Personal Account, Joint Account, GICs, USD Account | Equitable Bank (EQ Bank is a trade name) | CDIC: Up to $100,000 per insured category per depositor, aggregated across EQ Bank and Equitable Bank; joint deposits get a separate $100,000 per unique set of co-holders | Deposits must be payable in Canada. Joint: per set of co-holders, not per co-holder (up to 4 holders). Source |
| Tangerine Savings, US$ Savings, GICs, TFSA/RSP savings | Tangerine Bank (wholly owned subsidiary of The Bank of Nova Scotia) | CDIC: Up to $100,000 per insured category at Tangerine Bank, separate from Scotiabank | Canadian and US-dollar savings products and GICs listed as eligible. Source |
| Simplii Financial All Simplii deposits (HISA, chequing, GICs) | Canadian Imperial Bank of Commerce (Simplii is a trademark and division of CIBC) | CDIC: Up to $100,000 per insured category, shared with CIBC | Simplii and CIBC deposits are one member for CDIC purposes; Simplii banking not available in Quebec. Source |
| PC Financial PC Money Account (and PC GICs) | President's Choice Bank (acquired by EQB, parent of EQ Bank; deal closed July 1, 2026) | CDIC: Up to $100,000 per insured category at President's Choice Bank, separate from EQ Bank / Equitable Bank | PC Financial FAQ says existing CDIC coverage is unchanged and PC and EQ products are covered separately. PC's CDIC page explicitly names only GICs as eligible; no product-level deposit register for the PC Money Account was readable. Source |
| Canadian Tire Bank High Interest Savings, GICs, Tax-Free HISA/GIC | Canadian Tire Bank | CDIC: Standard CDIC: up to $100,000 per insured category | Membership confirmed on cdic.ca. CTB's own CDIC page is JavaScript-rendered and its text could not be read; the product list (HISA, GIC, TFSA HISA/GIC) comes from search snippets only, so treat the product list as unverified. Source |
| Questbank / Questrade Questbank GICs (sold via Questrade and other dealers); no Questbank savings or chequing product confirmed | Questbank (Schedule I bank) and/or Community Trust Company (GICs co-issued) | CDIC: Up to $100,000 per insured category per member; Questbank and Community Trust are separate CDIC members | Questbank's deposit register lists only 'Long-term Non-Registered GICs' as eligible. Questrade brokerage cash is CIPF, not CDIC. A GIC held in the dealer's nominee name is covered as a trust deposit if disclosure rules are met. Source |
| Manulife Bank Manulife Bank Advantage Account and GICs; Manulife Trust GICs and savings | Manulife Bank of Canada; Manulife Trust Company (subsidiary) | CDIC: Up to $100,000 per insured category at each of the two members (separate limits) | manulifebank.ca blocks automated access (403), so product-level eligibility was not read directly. Membership of both entities confirmed on cdic.ca. Source |
| Motive Financial Motive savings, chequing, GICs | National Bank of Canada (Motive Financial is an NBC trade name; Canadian Western Bank amalgamated into NBC on March 1, 2025) | CDIC: Normally shares NBC's $100,000-per-category limit. Transitional: pre-amalgamation CWB deposits separately covered up to $100,000 per category for two years (to about March 1, 2027); term deposits until maturity or redemption. | Transitional separate coverage shrinks with withdrawals. New deposits: if combined CWB+NBC deposits in a category exceeded $100,000 before amalgamation, new deposits in that category are not insured; otherwise they are added up to $100,000. Canadian Western Trust and Valiant Trust are separate members. Source |
| Oaken Financial Oaken GICs, Oaken Savings, HISA, TFSA/RSP savings | Home Bank or Home Trust Company (customer chooses the issuer); Oaken is a trademark of Home Bank, a wholly owned subsidiary of Home Trust | CDIC: Up to $100,000 per insured category at each issuer; Home Bank and Home Trust are separate CDIC members | Deposits must be payable in Canada. The Oaken brand itself adds no coverage; coverage follows the issuing member. Source |
| Hubert Financial Hubert savings, TFSA, GICs | Access Credit Union (Manitoba), not Steinbach Credit Union, per DGCM | Deposit Guarantee Corporation of Manitoba (DGCM): 100% of deposits including accrued interest, no dollar limit, regardless of the depositor's province | Covers chequing, savings, GICs (including terms over 5 years), registered and foreign-currency deposits; excludes shares, mutual funds and non-deposit self-directed RRSP holdings. hubertfinancial.com is JavaScript-only and was not readable. Source |
| Achieva Financial Achieva HISA, GICs, TFSA/RRSP/RRIF savings | Cambrian Credit Union (Manitoba) | Deposit Guarantee Corporation of Manitoba (DGCM): 100% of deposits including interest, no limit, any province of residence | DGCM exclusions apply (shares, mutual funds). Source |
| Outlook Financial Outlook HISA, GICs, TFSA/FHSA/RRSP/RRIF | Assiniboine Credit Union (Manitoba) | Deposit Guarantee Corporation of Manitoba (DGCM): 100% of deposits plus interest, no limit, any province | Outlook merged banking systems with MAXA Financial on October 9-12, 2026 (MAXA accounts switched to Outlook accounts October 12, 2026). Source |
| Alterna Bank Alterna Bank eSavings, chequing, GICs, TFSA/RRSP eSavings | CS Alterna Bank (federally regulated bank) | CDIC: Standard CDIC: up to $100,000 per insured category | A separate institution from the Alterna Savings credit union; mutual funds and securities not covered. Source |
| Alterna Savings Alterna Savings credit union deposits | Alterna Savings and Credit Union (Ontario credit union) | FSRA Deposit Insurance Reserve Fund (Ontario), not CDIC: Non-registered eligible deposits up to $250,000; eligible registered-account deposits unlimited | FSRA excludes foreign-currency deposits, membership/investment shares and mutual funds. Joint, trust, registered and eligible business accounts are insured separately; branches of the same credit union are not separate. Source |
Credit unions: insured by the province
Provincially regulated credit unions are protected by their province’s insurer, not CDIC. Federal credit unions (Coast Capital, Innovation, UNI, Tru) are CDIC members.
| Province | Insurer | Non-registered deposits | Registered deposits |
|---|---|---|---|
| British Columbia | Credit Union Deposit Insurance Corporation of British Columbia (CUDIC), overseen by the BC Financial Services Authority | Unlimited — 100% of eligible deposits | Unlimited |
| Alberta | Credit Union Deposit Guarantee Corporation (CUDGC) | 100% of deposits, including accrued interest — no dollar limit | 100% — no dollar limit |
| Saskatchewan | Credit Union Deposit Guarantee Corporation (CUDGC) — Saskatchewan | Unlimited — the full amount of all deposits | Unlimited |
| Manitoba | Deposit Guarantee Corporation of Manitoba (DGCM) | Unlimited — all deposits including accrued interest | Unlimited |
| Ontario | Financial Services Regulatory Authority of Ontario (FSRA) — Deposit Insurance Reserve Fund | Up to $250,000 (principal and interest) per depositor, per credit union or caisse populaire | Unlimited for insurable deposits in RRSPs, RRIFs, TFSAs, RESPs, RDSPs, LIRAs, LIFs and FHSAs |
| Quebec | Autorité des marchés financiers (AMF) — deposit insurance fund | Up to $100,000 per category, per person, per authorized deposit institution (principal plus interest) | $100,000 per registered-plan category |
| New Brunswick | New Brunswick Credit Union Deposit Insurance Corporation (NBCUDIC) | Up to $250,000 per category (single name, joint, trust) | Up to $250,000 per plan type — RRSP, RRIF, TFSA, RESP, RDSP and FHSA each separate |
| Nova Scotia | Nova Scotia Credit Union Deposit Insurance Corporation (CUDIC) | Up to $250,000 per member for basic deposits; joint deposits $250,000 combined; trust deposits separately to $250,000 | Each RRSP, RRIF, TFSA and RESP contract insured separately to $250,000 |
| Prince Edward Island | PEI Credit Union Deposit Insurance Corporation | Up to $250,000 per member per credit union (principal and interest); joint $250,000; trust up to $250,000 per beneficiary | Unlimited — RRSPs, RRIFs, RESPs, RDSPs, TFSAs and FHSAs held in savings or eligible term deposits |
| Newfoundland and Labrador | Credit Union Deposit Guarantee Corporation (CUDGC), Newfoundland and Labrador | Up to $250,000 per type of deposit — basic, joint and trust each $250,000 | $250,000 for registered savings plans (RRSPs, RRIFs, TFSAs); FHSAs insurable as registered deposits since April 2023 |
The rules the calculator applies
- Find the member. Coverage is per CDIC member institution — the legal entity. A brand that is a trade name of a member (for example Simplii Financial of CIBC, or EQ Bank of Equitable Bank) shares that member’s limits.
- Sort by category. Each of the nine categories gets its own $100,000: one name, joint (per distinct set of co-owners), trust (per beneficiary, when disclosure rules are met), RRSP, RRIF, TFSA, RESP, RDSP and FHSA.
- Keep only eligible deposits. Savings, chequing, GICs and other term deposits, in Canadian or foreign currency, count. Stocks, bonds, mutual funds, ETFs and crypto-assets do not.
- Cap each group. Principal and interest together, up to the limit; anything above is uninsured.
Worked example
One person holds $70,000 in savings at CIBC, $50,000 at Simplii Financial, a $60,000 GIC and $25,000 of ETFs in a CIBC TFSA, and $90,000 in a joint account with a partner.
| Group | Deposits | Covered | Over limit |
|---|---|---|---|
| Own name | $120,000 | $100,000 | $20,000 |
| TFSA | $60,000 | $60,000 | $0 |
| Joint (Me + Sam) | $90,000 | $90,000 | $0 |
Because Simplii and CIBC are the same member, the two own-name balances combine to $120,000 and $20,000 sits above the limit. The TFSA GIC and the joint account are separate categories and fully covered. The $25,000 of ETFs is not a deposit, so CDIC never covered it. In total $250,000 of $295,000 is protected.
Frequently asked questions
Is money in Wealthsimple, KOHO or Neo protected?
They are not banks or CDIC members. Each holds customer money at partner institutions: Wealthsimple Chequing in trust across at least 10 CDIC members (up to $1,000,000 combined, by its own account); KOHO only when Earn Interest is on; Neo Everyday and HISA at Peoples Bank of Canada, and Neo Chequing and Savings in trust at unnamed members. Wealthsimple Savings is covered by CIPF, not CDIC. Details and sources are in the table on this page.
How do I protect more than $100,000 in GICs?
Spread it across separate CDIC members and categories. Because the $100,000 includes interest, keep each GIC’s principal low enough that it stays under $100,000 at maturity — the GIC split planner on this page works out the amount and how many members you need.
How much does CDIC cover?
Up to $100,000 of eligible deposits — principal and interest combined — in each insured category, at each CDIC member institution. Coverage is free and automatic.
What are the CDIC categories?
Nine: deposits in one name, joint deposits, deposits held in trust, and deposits in RRSPs, RRIFs, TFSAs, RESPs, RDSPs and FHSAs. Mortgage-tax accounts stopped being a separate category on April 30, 2022.
Are Simplii Financial and CIBC covered separately?
No. CDIC lists Simplii Financial as a name used by Canadian Imperial Bank of Commerce, so deposits at both share one set of limits. The same applies to every brand that is a trade name of one member — check the CDIC members list.
Are US-dollar deposits covered by CDIC?
Yes, since April 30, 2020, eligible foreign-currency deposits at CDIC members are covered — but they are added to your other deposits in the same category, not given extra room.
Are stocks, ETFs or mutual funds in my TFSA covered?
No. CDIC covers deposits (savings, chequing, GICs and other term deposits). Mutual funds, stocks, bonds, ETFs and crypto-assets are not covered, even inside a registered plan.
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