Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- In the event of a deposit transfer, how will a depositor know when and where he can withdraw his funds?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
