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Home FAQ Do depositors of a failed member institution have an unlimited time within which to make a claim on the Fund?
Do depositors of a failed member institution have an unlimited time within which to make a claim on the Fund? Print E-mail

Depositors are granted a 15 month window following the publication of the winding up order of a member institution, in which to make a claim.  After which they can claim against the estate of the failed member. After the passage of 15 months, claims can only be made against the estate of the failed member institution payment for which would depend on the values realised from disposal of the assets.

 
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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.