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Read moreA Deposit Insurance Scheme (DIS) is a financial safety net established by governments to protect your money if a bank fails or is closed. In South Africa, the Corporation for Deposit Insurance (CODI) oversees this scheme.
What does this mean for you?
As a personal banking client, the Deposit Insurance Scheme means that money you’ve deposited with a bank is protected up to a certain limit. This limit is currently set at R100 000 per client per bank. In practical terms, the DIS offers you peace of mind knowing that even if the bank encounters financial difficulties, your savings are protected up to the insured limit.
