Yes, a depositor, if he/she wishes, can open an account with the transferee institution for the full amount or part of his/her deposit.
Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- What is the current insured limit?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- What happens to those depositors whose accounts are subject to further examination?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation.- Fact: Deposit insurance is ONLY activated upon closure of a member institution.