Such persons will be requested to meet with the relevant DIC officials.
Frequently Asked Questions
- 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?
- What happens to those depositors whose accounts are subject to further examination?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
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.