The Philippine Deposit Insurance Corp. (PDIC) is doubling deposit insurance coverage to ₱1 million per depositor, per bank, effective March 15.
This move, up from the current ₱500,000, reflects PDIC’s commitment to safeguarding depositors in the event of bank failures.
PDIC president and CEO Roberto Tan has directed banks to download the updated PDIC digital decal starting February 28 and prominently display it across official websites, social media pages, digital platforms, mobile apps, ATMs, and other banking channels.
Banks must also incorporate the revised insurance statement in advertisements and deposit product promotions to ensure public awareness.
