About us

Deposit Insurance is a system that is established by the Government of the Virgin Islands, to provide protection for depositors against the loss of insured deposits placed within member institutions (banks), in the event of the failure of a member institution

Safety Net Structure
It represents an integral part of the territory’s financial safety-net structure.

Protection
It is imperative to protect the domestic deposit base from the effects of such a failure as this has adverse effects on the health of the BVI Economy

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Deposit Insurance Estimator Calculator

The calculator is designed to offer you an estimated deposit insurance coverage based on the information you provide. By inputting details such as account types, balances, and financial institutions, you'll receive a personalized analysis of your deposit insurance protection.

 

What Is Protected?

VIDIC safeguards the deposits of individuals and businesses, ensuring their financial security and peace of mind in the event of bank failure or unforeseen financial challenges

 

Protection Limit

The Virgin Islands Deposit Insurance Corporation provides protection for eligible deposits up to US$100,000 per depositor per member institution. This US$100,000 limit is inclusive of the principal amount and the interest amount of the deposit.

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Joint Accounts

Deposits held jointly have separate protection from other types of deposit accounts. Also, joint accounts held with different account holders have separate protection at US$100,000 collectively and not US$100,000 per joint account holder.

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Trust Accounts

Deposits held in trust accounts (includes client deposit accounts held by professional practices eg. legal, accounting) are protected separately from deposits in other types of accounts.
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LEADERSHIP TEAM

We are governed by a six member Board of Directors from the private and public sectors who bring expertise, stewardship, and due care to act in the best interests of the VIDIC and its stakeholders in accordance with laws, regulations and industry best practices.

 

CHAIRMAN

Mr. Ian S. Smith

DIRECTOR

Mr. Phillip Fahie

EXTERNAL DIRECTOR

Mr. David Walker

HEAD of OPERATIONS

Mrs. Natalia Chinnery

DIRECTOR of BVI FSC

Mr. Kenneth Baker

HEAD of RESOLUTION, RULES & POLICY

Mrs. Suzette Phillips

DIRECTOR

Mrs. Sherri Ortiz-Fahie

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