Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What types of deposits are insured?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
