Bank Deposits - Your Partner in Progress

Bank Deposits - Your Partner in Progress

WITH the theme "Deposito sa Bangko, Katuwang sa Pag-asenso", Philippine Deposit Insurance Corporation (PDIC) leads the nationwide observance of the 20th Depositor Protection and Awareness Week from June 16 to 22, 2022.

Saving in Banks – Gateway to Financial Security

By saving regularly, we can have funds to:

  1. Meet our needs during times when health, economic, and other reasons prevent us from making a living;
  2. Invest in financial assets or even a business in preparation for retirement and other financial goals;
  3. Insure ourselves and our assets against sickness or death and damages; and
  4. Achieve our dreams in life i.e., travel, home, education, etc.
  5. More importantly, the habit of saving money can help us achieve peace of mind knowing that we have saved something for rainy or even stormy days. This is financial security.

Why Banks?

Safe and convenient transactions

Travel and other requirements

Protection for Your Hard-earned Money

PDIC—Your Confidence to Save in Banks

Through the Years: Stronger Depositor Protection

Deposit Insurance Fund

Deposit insurers must have the funds and funding mechanisms necessary for prompt reimbursement of depositors’ claims. To this extent, the PDIC has prudently managed the deposit insurance fund (DIF) from which it pays deposit insurance claims. From only P5 million on its establishment in 1963, the DIF stood at P243 billion by end of 2021. The amount covers 7.68 percent of the country’s estimated insured deposits and is significantly higher than its minimum target for fund adequacy of 5.5 percent.

Depositor Reimbursement

  1. Outright payment of deposit insurance claims that do not require filing via postal money orders (PMO) that are sent directly to depositors’ registered addresses.
  2. Increased the limit for waived filing of deposit insurance claims from P5,000 in 2010 to P100,000 at present.
  3. Deposit insurance payment options have been expanded by way of collaborations with financial institutions. Deposit insurance is now paid through a variety of convenient options such as checks, cash-over-the-counter, debit cards, direct credit to bank or e-money issuer accounts, and outgoing telegraphic transfers (OTT).

Public Awareness

  1. Requiring member banks to advertise the PDIC’s deposit insurance protection in their branches, automated teller machines, deposit documents, website, and advertisements;
  2. Leading the annual observance of the Depositor Protection and Awareness Week (DPAW) in June;
  3. Conducting financial literacy sessions via its flagship program, “Be A Wise Saver” (BAWS); and
  4. Attending to queries, requests, and complaints (QRCs) from clients and other stakeholders at the PDIC’s public assistance center.

Relationships with Other Financial Safety-net Participants

  1. Founding of the Financial Sector Forum (FSF) together with the Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), and Securities and Exchange Commission (SEC) in 2004. The FSF provides an institutionalized framework for the coordination of members’ supervisory and regulatory activities in fulfillment of their mandates.
  2. Instituting the Financial Stability Coordination Council (FSCC) in 2014 together with FSF members and the Department of Finance. The interagency council aims to identify, manage, and mitigate systemic risks in the country’s financial system.
  3. Initiation of a multi-agency project to streamline the processing of merger-consolidation-acquisition (MCA) applications of banks. A Memorandum of Agreement (MOA) was signed by the PDIC together with the BSP, SEC, Cooperative Development Authority, and the Philippine Competition Commission in 2021 to formalize the project in support of the Philippines’ ease of doing business law.
  4. Active participation in the FSF’s Financial Technology (FinTech) Committee, the committee that oversees the coordinated formulation and implementation of cybersecurity-related policies and guidelines for all Philippine financial institutions engaged in fintech activities.

Holding Parties-at-Fault in Bank Failures Accountable

Your Partner on the Road to Progress

ang deposito sa bangko ay katuwang sa pag-asenso.


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