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Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What happens to those depositors whose accounts are subject to further examination?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.