Frequently Asked Questions
- How does the closing of an institution affect interest accruing on a deposit?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- Who should file a claim if more than one person is authorised to draw on an account?
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.
