Frequently Asked Questions
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- When is the Liquidator appointed?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
