Frequently Asked Questions
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- How quickly will the Liquidator make payments on certificates?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- Does the borrower’s obligations to the institution continue after the institution is closed?
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.
