Debit cards as deposit option

File Photo
File Photo

THE Philippine Deposit Insurance Corp. (PDIC) and Land Bank of the Philippines (LBP) have partnered for the implementation of the PDIC-LandBank Visa Debit Card Project, which will provide depositors of closed banks an additional means to promptly access their deposit insurance payment from the PDIC.

Under the project, LBP will issue its Visa Debit Card to eligible depositors who are covered by the outright payment of deposit insurance, or those who are no longer required to file deposit insurance claims.

These include individual depositors with valid deposit balances of P100,000 and below who have no outstanding loans with the closed bank and have complete mailing addresses in the bank records or have updated this information through the PDIC Mailing Address Update Form.

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