Frequently Asked Questions
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- How quickly will the Liquidator make payments on certificates?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
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 …
