Frequently Asked Questions
- Are any other cash liabilities of financial institutions covered?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- When can an eligible depositor expect to receive his or her money?
- Does the borrower’s obligations to the institution continue after the institution is closed?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
