Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
- Must a claim be filed in person?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
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.
