NDIC’s Assurance: Seamless Process for Heritage Bank Depositors to Retrieve Funds

The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank, whose license has been revoked, that they will receive their funds in full. This article outlines the steps depositors need to take to access their money.

The NDIC has promised to pay depositors who have balances between N1 and N5,000,000 the full amount in their Heritage Bank accounts.

These payments will be transferred to the depositors’ alternate bank accounts. The NDIC will utilize the Bank Verification Number (BVN) to identify depositors’ accounts in other banks and make the necessary transfers.

For instance, if a depositor has accounts in both Heritage Bank and Access Bank, the NDIC will use the BVN to locate the Access Bank account and transfer the balance from Heritage Bank to the Access Bank account.

This seamless process ensures that depositors can access their funds without any hassle.

In cases where depositors do not have accounts in any bank other than the defunct Heritage Bank, they can still retrieve their money. Depositors are advised to open a new account with any trusted commercial bank.

They should then visit the nearest Heritage Bank branch with proof of account ownership, a means of identification (such as a driver’s license, permanent voter’s card, or national identity card), details of the new bank account, and their BVN. NDIC will use this information to verify deposits and transfer the funds to the new account.

Alternatively, depositors can complete the process online by visiting the NDIC website, downloading, and filling out the claims forms, and uploading the required documents.

those with balances exceeding N5,000,000, further details will be provided by NDIC on how to claim these funds.


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