Frequently Asked Questions
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
