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CLAIM FORMPHILIPPINE DEPOSIT INSURANCE CORPORATION SSS Bldg, Ayala Ave. Cor. V.A. Rufino St., 1226 Makati City, Philippines Telephone No. 8414630 to 4631 Toll Free: 180018887342 (PDIC) Email: PAD.

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PDIC provides a maximum deposit insurance coverage of PhP500,000 per depositor per bank. It covers all types of bank deposits in banks whether denominated in local or foreign currencies. All deposit accounts of a depositor in a closed bank maintained in the same right and capacity shall be added together.

PDIC is a government instrumentality created in 1963 by virtue of Republic Act 3591 to insure the deposits of all banks. PDIC exists to protect depositors by providing deposit insurance coverage for the depositing public and help promote financial stability.

PDIC shall pay deposit insurance on all valid deposits up to the Maximum Deposit Insurance Coverage of Php500,000, per depositor, of a closed bank. Accounts maintained in the same right and capacity for a depositor's benefit, whether in his own name or in the name of others, are covered by deposit insurance.

PDIC provides a maximum deposit insurance coverage of PhP500,000 per depositor per bank. It covers all types of bank deposits in banks whether denominated in local or foreign currencies. All deposit accounts of a depositor in a closed bank maintained in the same right and capacity shall be added together.

Membership of banks to PDIC is mandatory; hence, all operating banks are members of PDIC.

PDIC covers only the risk of a bank closure ordered by the Monetary Board. Thus, bank losses due to theft, fire, closure by reason of strike or existence of public disorder, revolution or civil war, are not covered by PDIC.

The PDIC Charter excludes the following accounts or transactions from deposit insurance coverage: 1) investment products such as bonds and securities, and other similar instruments which do not fall under the definition of a deposit, 2) unfunded, fictitious, or fraudulent deposit accounts or transactions, and, 3) ...

Investment products such as bonds, securities and trust accounts; Deposit accounts which are unfunded, fictitious or fraudulent; Deposit products constituting or emanating from unsafe and unsound banking practices;

The term 'insured deposit' means the amount due to any bona fide depositor for legitimate deposits in an insured bank net of any obligation of the depositor to the insured bank as of date of closure, but not to exceed P500,000.00. A joint account shall be insured separately from any individually-owned deposit account.

The Philippine Deposit Insurance Corporation has three basic functions. First, they are the deposit insurer. Second, they act as co-regulator of banks. And third, they are the receiver and liquidator of closed banks.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232