How are the Insured Sums Collected?
Insured sums are collected by depositors on
filing their claims through the completion of relevant forms provided by the
NDIC. In addition, they have to furnish the NDIC with account documents such as
unused cheque books, old cheque stubs, passbooks, fixed deposit certificates,
etc. Each depositor would also be required to identify him/herself with a
valid identification document such as National Identity Card, Driver’s Licence
or International Passport. After verification of ownership of the account as
well as the account balance, the depositor would be duly paid the insured sum
by cheque or deposit transfer through an Agent Bank or Acquiring Bank.