Information regarding the date and place of payment will be posted on the doors of the closed institution, published in the press and indicated in notices sent to depositors.
Frequently Asked Questions
- How does a depositor establish an insurance claim?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- Can a depositor leave his/her deposit with the transferee institution?
- If a depositor has more than $125,000 (the current insured limit) in a failed institution and is paid $125,000 by the DIC, what happens to the amount in excess of $125,000?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.