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Home FAQ Are certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure?
Are certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure? Print E-mail

A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process.

 
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Disclaimer

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.