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
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- When must a depositor file a claim?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
