Frequently Asked Questions
- What does a deposit transfer involve?
- Which institutions depositors are insured by the DIC?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
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.
