Frequently Asked Questions
- Can a depositor leave his/her deposit with the transferee institution?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- When can an eligible depositor expect to receive his or her money?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
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.
