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Frequently Asked Questions
- What does a deposit transfer involve?
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- What procedure does the DIC follow after an institution has been closed?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
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.