Virgin Islands Deposit Insurance Corporation
Your Shield in Finance, Your Partner in Prosperity
Building Trust, Securing Deposits
What we are

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

VIDIC

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. 

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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

VIDIC

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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VIDIC

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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VIDIC

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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Chairman and Directors

BOARD OF DIRECTORS

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.

 

John joe

Mr. Ian S. Smith

Chairman

 

John joe

Mr. David Walker

External Director

 

John joe

Mr. Kenneth Baker

Director | CEO BVI Financial Services Commission

 

John joe

Mr. Phillip Fahie

Director

 

John joe

Mrs. Sherri Ortiz-Fahie

Director

 

John joe

Ms. Lisa Violet

Chief Executive Officer | ex-officio director

 

Executive Team

Operational management is the responsibility of our corporate officers and led by the Chief Executive Officer.

news

LATEST POST

"Stay Informed, Stay Secure: Explore VIDIC's Latest Updates!"

BVI FSC
BVI FSC and VIDIC Embrace Co-Monitoring Role
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The Virgin Islands Deposit Insurance Corporation Inaugural Board Meeting
House of Assembly
Statement on the establishment of the Virgin Islands Deposit Insurance Corporation