Frequently Asked Questions
- What happens to those depositors whose accounts are subject to further examination?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- What is the current insured limit?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …