Frequently Asked Questions
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- When must a depositor file a claim?
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.
