From 1 January 2010, the Law requires NDIF to pay out compensation within 20 working days of the default of a deposit taker.
A key element of meeting this criterion on deposit takers to develop a single customer view (SCV). The provision of a SCV provides the NDIF with the information required to make a fast pay out.
SCV is not only an obligation for member institution to be able to make on NDIF’s request, but also a requirement from customers. Any clients that held deposit in NDIF member institutions may ask its bank to inform on current SCV as of the date of the request in the branch. SCV in a free of charge information for clients.
For more information of the current premium policy of the NDIF, please contact our team!