Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- When can an eligible depositor expect to receive his or her money?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
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.
