Frequently Asked Questions
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What happens to those depositors whose accounts are subject to further examination?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Are foreign deposits insured?
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.
