Frequently Asked Questions
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- 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?
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.
