Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- Does the borrower’s obligations to the institution continue after the institution is closed?
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.
