Deposit Protection Corporation Stuck With $3.2 Million Unclaimed Money By Customers Of Failed Banks

By Alvine Chaparadza

A notable of bank customers haven’t yet claimed $3.2million worth of compensation from The Deposit Protection Corporation (DPC). Lack of knowledge of such an arrangement and institution from the customer’s side is attributed to be the main reason why customers are not claiming their compensation. DPC public relations manager Allen Masadziruma said:

We haven’t really moved away from $3,2 million, there hasn’t been much movement since last year. We are really not sure if we can even surpass $4 million because most of the depositors of failed banks are not aware of the process.

The institution was created in …read more

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