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
- Are any other cash liabilities of financial institutions covered?
- How does the closing of an institution affect interest accruing on a deposit?
- What procedure does the DIC follow after an institution has been closed?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
Did You Know?
- Misconception: Mutual Funds are covered by Deposit Insurance. - Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.
