Deposit insurance is payable only when an institution has been closed as a result of action taken by the Central Bank.
Frequently Asked Questions
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Which institutions depositors are insured by the DIC?
- Are any other cash liabilities of financial institutions covered?
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.
