Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- When is deposit insurance payable?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
