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
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
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.