Canadian banks, and how your deposits are protected

The major Canadian banks and digital banks, each with the federal register entry and the deposit-insurance position that applies to it. This is a coverage list, not a ranking and not an endorsement.

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CDIC protection applies to eligible deposits up to $100,000 in each insured category at each member institution, and member institutions in a banking group are treated separately for coverage. Provincial credit unions follow their own provincial schemes. Confirm a bank's membership on the CDIC and OSFI registers before relying on it.

Banks

Institution	Deposit protection	Regulator
RBC Royal Bank	CDIC, $100,000 per insured category	OSFI register
TD Canada Trust	CDIC, $100,000 per insured category	OSFI register
BMO Bank of Montreal	CDIC, $100,000 per insured category	OSFI register
CIBC	CDIC, $100,000 per insured category	OSFI register
Scotiabank	CDIC, $100,000 per insured category	OSFI register
National Bank of Canada	CDIC, $100,000 per insured category	OSFI register
Manulife Bank	CDIC, $100,000 per insured category	OSFI register

Digital banks

Institution	Deposit protection	Regulator
EQ Bank	CDIC, $100,000 per insured category	OSFI register
Simplii Financial	CDIC, $100,000 per insured category	OSFI register
Tangerine	CDIC, $100,000 per insured category	OSFI register
Oaken Financial	CDIC, $100,000 per insured category	OSFI register

Source. Bank names and federal registration are public facts recorded by the Office of the Superintendent of Financial Institutions. The deposit-insurance limit is the Canada Deposit Insurance Corporation limit in force from 2005.