What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
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What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution? Print

The DIC may pay depositors either by transfer to a another member institution on depositors’ behalf, or payment can be made directly by means of cheques up to the insured limit which will be collected at designated locations.
 
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Please Note: This website is designed to give general information about deposit insurance and should not be relied upon as definitive. The actual deposit insurance coverage provided by BDIC following the failure of a member institution is based on the deposit account records at the failed member institution and is governed by the Deposit Insurance Act.

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