Frequently Asked Questions
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Who should file a claim if more than one person is authorised to draw on an account?
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.
