Motus BankTM (‘motusbank’) is a member of the Canada Deposit Insurance Corporation (CDIC). As a federally regulated deposit taking institution, motusbank is authorized to accept deposits in all provinces and territories in Canada.
Based on maximum coverage outlined in the CDIC brochure, Protecting Your Deposits, and provided deposits are in Canadian funds, payable in Canada, and have a term limit of no more than 5 years, the following products are eligible for deposit insurance:
Savings accounts (also available within RRSP, TFSA, RRIF)
High interest savings
Chequing accounts
No-fee chequing
Term deposits/GICs (also available within RRSP, TFSA, RRIF)
Short-term non-redeemable GIC
Long-term non-redeemable GIC
Special-length non-redeemable GIC
Term deposits/GICs (available only within RRSP, TFSA, RRIF)
3-year non-redeemable escalator GIC
5-year non-redeemable escalator GIC
Other (Canadian currency only)
Bank drafts
Suspense accounts
Items in transit
For more, visit the Canada Deposit Insurance Corporation website, email info@cdic.ca or call 1-800-461-(2342).