Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
- How quickly will the Liquidator make payments on certificates?
- 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.
