The depositor has to satisfy the DIC or transferee institution that he/she is the rightful owner of the deposit claimed. In cases of doubt, the transferee institution may refer the matter to the DIC.
Frequently Asked Questions
- Are Mutual Funds insured?
- How quickly will the Liquidator make payments on certificates?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What happens to cheques which are not cleared on a depositor’s account before the business of the 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.
