Frequently Asked Questions
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
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.
