Frequently Asked Questions
- Which institutions depositors are insured by the DIC?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- When can an eligible depositor expect to receive his or her money?
Did You Know?
- Misconception: All financial institutions that take deposits are covered under the Deposit Insurance Fund - Fact: ONLY member institutions that are licensed under the Financial Institutions Act, 2008 are covered under the Deposit Insurance Fund. This legislation provides for the regulation of commercial banks and other institutions engaged in the business of banking and business of a financial nature.
