Frequently Asked Questions
- What does a deposit transfer involve?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What procedure does the DIC follow after an institution has been closed?
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.
