Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- When is the Liquidator appointed?
Did You Know?
- Misconception: Certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure. - Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
