Frequently Asked Questions
- How does a depositor establish an insurance claim?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What happens to those depositors whose accounts are subject to further examination?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
