Frequently Asked Questions
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- Who should file a claim if more than one person is authorised to draw on an account?
- If a person has an interest in more than one joint account, what is the extent of his or her insurance coverage?
- When can an eligible depositor expect to receive his or her money?
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 …