The DIC will notify depositors of the transfer of deposits and of the place and time that the deposits can be withdrawn from the transferee institution.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
- How does the closing of an institution affect interest accruing on a deposit?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- What is the current insured limit?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
