Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- Can a depositor leave his/her deposit with the transferee institution?
- How quickly will the Liquidator make payments on certificates?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
