Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- How quickly will the Liquidator make payments on certificates?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
