Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What is the current insured limit?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
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.
