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20th Depositor Protection and Awareness Week highlights financial security through wise saving


The Philippine Deposit Insurance Corporation (PDIC) led the nationwide observance of the 20th Depositor Protection and Awareness Week (DPAW) on June 16-22, with the theme, “Deposito sa Bangko, Katuwang sa Pag-asenso”, which promotes the importance of wise saving and responsible banking to attain financial security in life.

As the lead agency for the DPAW, the PDIC partnered with banks and other agencies to disseminate information and heighten public awareness of said observance. Information materials were released through traditional and social media platforms and amplified through the participation of banks and PDIC’s partner-institutions. These include national and local newspaper supplements, physical and digital DPAW banners; and social media graphics and videos.

The special supplements on DPAW emphasized the importance and benefits of saving in banks such as safe and convenient transactions, and the protection of one’s hard-earned money through the banks’ secured systems and the PDIC’s deposit insurance coverage. Through these, Filipinos can be confident about saving their hard-earned money in banks.

PDIC President and CEO Roberto B. Tan, in his message to the public, said, “May the importance of financial security always resonate not just in our minds but also in our hearts. Achieving financial security requires developing many effective financial habits. But the foundation for most, if not all of them, is saving money in banks.” This is in line with the Corporation’s goal to inspire the public to become wise savers by starting their financial recovery journey and later on achieve financial security.

The observance of DPAW is mandated by Presidential Proclamation No. 358 series of 2003 to help strengthen the Philippine banking system through enhanced depositor confidence that will help sustain economic growth.

As the state deposit insurer, the PDIC is mandated to protect depositors through the maximum deposit insurance coverage of P500,000 per depositor, per bank. The PDIC’s pledge of protection for the depositing public is summed up by its corporate tagline, “Bank deposit mo, protektado!”

The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963, by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

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