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You need to have a Zag Bank account before you can download the Zag mobile app. To open an account, click here.
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Zag Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means that you are covered by CDIC's deposit insurance.
What kinds of Zag Bank accounts are eligible for deposit insurance from CDIC?
CDIC deposit insurance covers up to $100,000 (principal and interest combined) per depositor, subject to maximum coverage limitations as outlined by CDIC in Protecting Your Deposits. Deposits must be in Canadian funds, payable in Canada and have a term of no more than 5 years.
Plus, CDIC covers the following deposit categories separately:
You can learn more about CDIC here.
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