Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Are any other cash liabilities of financial institutions covered?
- 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 types of deposits are insured?
Did You Know?
- Misconception: All financial institutions that take deposits are covered under the Deposit Insurance Fund - Fact: ONLY member institutions that are licensed under the Financial Institutions Act, 2008 are covered under the Deposit Insurance Fund. This legislation provides for the regulation of commercial banks and other institutions engaged in the business of banking and business of a financial nature.
