Frequently Asked Questions
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Who should file a claim if more than one person is authorised to draw on an account?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
