The DIC will notify depositors of the transfer of deposits and of the place and time that the deposits can be withdrawn from the transferee institution.
Frequently Asked Questions
- Can a depositor leave his/her deposit with the transferee institution?
- When can an eligible depositor expect to receive his or her money?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
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.