What does PDIC mean?
PDIC
| Acronym | Definition |
|---|---|
| PDIC | Philippine Deposit Insurance Corporation |
| PDIC | Professional Diving Instructors Corporation |
| PDIC | Professional Driver Improvement Course |
| PDIC | Parkinson’s Disease Information Center |
What are the 3 basic functions of PDIC?
“To carry these out, the PDIC has to perform three mandates or core functions as Co-Regulator of banks, Deposit Insurer, and Receiver and Liquidator of closed banks.”
What is PDIC function?
PDIC is authorized to issue regulations to implement its Charter, conduct bank examinations and investigations to assess financial safety and soundness of banks and their adherence to banking and deposit insurance rules and regulations, and extend financial assistance to eligible distressed banks.
Are all banks members of PDIC?
Membership of banks to PDIC is mandatory; hence, all operating banks are members of PDIC.
Who created PDIC?
the Philippine government
In order to stabilize the situation and restore confidence in banks, the Philippine government created its own version of deposit insurance system through Republic Act 3591, which created the Philippine Deposit Insurance Corporation (PDIC) on June 22, 1963 to protect depositors and help maintain financial stability.
How do I claim PDIC?
Status of claims may be followed up through any of the following modes:
- Phone. Public Assistance Hotlines. (02) 8841-4141.
- Toll Free. 1-800-1-888-7342 or 1-800-1-888-PDIC.
- E-mail. [email protected].
- Website. www.pdic.gov.ph.
- Facebook. www.facebook.com/OfficialPDIC.
- Helpdesk/Public Assistance Center. 3/F SSS Bldg., 6782 Ayala Avenue.
How do I claim PDIC deposit?
Depositors may also file their claims through mail and enclose their original evidence of deposit and photocopy of one (1) valid photo-bearing ID with signature together with a duly accomplished and notarized Claim Form which can be downloaded from the PDIC website, www.pdic.gov.ph.
How much can the PDIC pay the insured depositor?
PhP500,000
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.
Who founded PDIC?
How do I file a PDIC?
How much is covered by PDIC?
How long does it take PDIC to settle a claim for an insured deposit?
The payouts are from PDIC’s own funds. The claim for insured deposit should be settled within six (6) months from the date of filing provided all requirements are met but the claim must be filed within twenty-four (24) months after bank takeover.
What does PDIC mean in scuba diving?
PDIC Meaning 7 PDIC Professional Diving Instructors Corporation Diving, SCUBA, Scuba Diving Diving, SCUBA, Scuba Diving 4 PdIC Pressure Differential Indicator Controller+ 1 variant Oil, Gas Oil, Gas 3 PdDIC
What is PDIC doing to promote financial literacy?
This is the reason, said Jose Villaret Jr., PDICvice-president for Corporate Affairs Group, said the agency, which is tasked to campaign for financial literacy, said it is implementing the Be a Wise Saver (BAWS) Campaign, an information drive that promotes wise saving and responsible banking.
What is PDIC doing to dispose of bank assets?
PDICcontinues to hold various asset disposal initiatives such as biddings, auctions and negotiated sale to beef up the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and preference of credits. PDIC eyes P45 million from bank asset sales
Does PDIC cover e-money?
At the moment, e-money or more popularly known as “e-load” which is money electronically stored in cash cards, stored value cards or e-wallets via mobile phones and other devices, are considered quasi deposits and not covered under PDIC. PDIC mulls insurance for quasi deposits