Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- When is deposit insurance payable?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.