Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- What happens to those depositors whose accounts are subject to further examination?
- What types of deposits are insured?
- 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: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
