A claim must be filed by a person authorised to make withdrawals from the account. For example, a claim for deposit insurance on an account where either of two parties was authorised to sign for withdrawals may be made by either party. If two signatures were required to make withdrawals, both signatures will be required on the claim for deposit insurance.
Frequently Asked Questions
- What is a DIC certificate?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- What procedure does the DIC follow after an institution has been closed?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.