Frequently Asked Questions
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- How does a depositor establish an insurance claim?
- Can a depositor leave his/her deposit with the transferee institution?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
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.
