Frequently Asked Questions
- When can an eligible depositor expect to receive his or her money?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
