Frequently Asked Questions
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- When can an eligible depositor expect to receive his or her money?
- When is deposit insurance payable?
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.
