CEBU CITY — Boosting public trust in the banking system, the Philippine Deposit Insurance Corp. (PDIC) has confirmed it is raising its maximum deposit insurance coverage (MDIC) from P500,000 to ...

Republic Act 3591, as amended, authorizes the PDIC Board of Directors to review and increase the MDIC every three years, based on inflation or other economic indicators. The P1 million insurance ...

Key increases in Deposit Insurance Coverage: Deposit Money Banks (DMBs) coverage has jumped from N500,000 to N5,000,000, providing full coverage for 98.98 percent of depositors compared to the ...

As of April 1, 2024, the Federal Deposit Insurance Corporation (FDIC) has implemented significant changes to its insurance coverage limits, particularly affecting trust accounts.

Customers of Microfinance Banks (MfBs) will receive deposit coverage from N200,000 to N2,000,000, offering full protection for 99.27 per cent of depositors.

An account-sharing service designed to extend the limits of government deposit insurance has doubled its coverage to $10 million for a single customer by expanding the number of participating banks.