The DIC is obliged by law to insure depositors in all institutions licensed to operate under the Financial Institutions Act, 2008 (See member institutions)
Frequently Asked Questions
- Must a claim be filed in person?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
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.
