Frequently Asked Questions
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Which institutions depositors are insured by the DIC?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- Does the borrower’s obligations to the institution continue after the institution is closed?
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.
