Frequently Asked Questions
- When can an eligible depositor expect to receive his or her money?
- What procedure does the DIC follow after an institution has been closed?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
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.
