The insured limit is a maximum of $200,000 for each depositor in respect of deposits held in each insured institution in each right and capacity.
Frequently Asked Questions
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
- How quickly will the Liquidator make payments on certificates?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
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.
