The DIC will notify depositors of the transfer of deposits and of the place and time that the deposits can be withdrawn from the transferee institution.
Frequently Asked Questions
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- When can an eligible depositor expect to receive his or her money?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- Who should file a claim if more than one person is authorised to draw on an account?
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.
