Venn holds customer funds in designated professional trustee trust accounts at the Bank of Montreal (BMO), which is a CDIC member institution. These funds are legally segregated from Venn’s own assets and recorded to you as the beneficial owner. This means your balance is not exposed to our business risks and is eligible for deposit insurance at the member bank if CDIC’s requirements are met*.
*CDIC protects eligible deposits up to CA$100,000 per deposit category per CDIC member institution, per beneficiary, provided CDIC’s disclosure requirements are met.