Money Orders, Certified Cheques and Bank Drafts
CDIC insures deposits in money orders, certified cheques and bank drafts that are held in Canadian dollars and that are issued by a CDIC member.

How much is insured by CDIC?
CDIC insures from $1 to $100,000. We calculate your savings by combining the amounts in:

• savings and chequing accounts
• GICs and other term deposits that mature in 5 years or less
• money orders, certified cheques and bank drafts issued by CDIC members (that are payable to you and not yet cashed)
• debentures (only those issued by loan companies)

For example…
If you have the following in your name at a CDIC member:

• $2,000 in a chequing account
• $1,000 in a savings account
• $500 in a money order payable to you and not yet cashed

You have $3,500 insured by CDIC in case your bank fails, because all of the above products are insured by CDIC.

CDIC also insures other types of deposits from $1 to $100,000. Find out more about how CDIC calculates insured deposits.

More than $100,000 in savings?
CDIC insures as much as $100,000 in each of six categories. Savings held: in one name, jointly in more than one name, in a trust account, in an RRSP, in a RRIF and in a mortgage tax account.