Joint Accounts and Trust Accounts

How Joint Accounts Are Treated

Joint accounts are covered based on each depositor's ownership share. For a joint account shared equally between two people:

• Each person's share is treated as an individual deposit
• Each person's share is covered up to KES 500,000
• So a joint account of KES 800,000 held equally = KES 400,000 per person, both fully covered

Trust and Minor Accounts

Accounts held in trust for a child or another beneficiary are covered based on the beneficiary's interest. The coverage limit applies to the beneficiary, not the trustee. This means a parent holding money in trust for three different children may have KES 500,000 of coverage for each child's account.