Frequently Asked Questions
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- When must a depositor file a claim?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- Which institutions depositors are insured by the DIC?
Did You Know?
- Misconception: All financial institutions that take deposits are covered under the Deposit Insurance Fund - Fact: ONLY member institutions that are licensed under the Financial Institutions Act, 2008 are covered under the Deposit Insurance Fund. This legislation provides for the regulation of commercial banks and other institutions engaged in the business of banking and business of a financial nature.
