Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- When can an eligible depositor expect to receive his or her money?
Did You Know?
- Misconception: Certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure. - Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.