Here are links to lists of closed banks in the Philippines from 2000 to 2021:
How much will PDIC cover if my bank fails?
If your bank fails, the PDIC will cover your valid total deposits in your failed bank up to 500,000 pesos.
If you have more than one account or more than one type of deposit account in your branch, or have accounts in other branches of your bank, these will be added together for coverage computation, but the PDIC will cover only up to 500,000 pesos.
If you have a joint account in the same bank, you and your co-account owner can make another claim — a separate claim — as it’s co-owned by you and another person. It’s covered separately, up to 500,000 pesos.
You will be required to file your claim according to instructions that will be published by the PDIC, specific to your bank.
See here how to file your claim with the PDIC.
If your total deposit with the failed bank is 100,000 pesos or below, you will not need to file your claim. Your check will be mailed to your address in the form of a postal money order. But if you are a borrower, co-borrower or a spouse of a borrower, or if your contact details are not updated, you need to contact the bank, or attend the scheduled PDIC meeting at the bank premises, or the scheduled online meeting, as announced on posters in the bank premises.
You can check updates on your failed bank on the official Facebook page of the PDIC: Official PDIC Facebook Page
All valid accounts in banks operating in the Philippines, including foreign currency deposit accounts, are covered by the PDIC deposit insurance, including branches or subsidiaries of foreign banks.
Excluded from the deposit insurance are:
- Cash cards
- Electronic reloadable cards
- Visa or Mastercard prepaid or debit cards which are not savings accounts
- Investment products such as bonds, securities, and trust accounts
- Deposit accounts which are unfunded or fraudulent
- Deposit accounts determined to contain money from unsound banking practices or from unlawful activities as defined by the Anti-Money Laundering Law.
It has been a relief to know that the Lists of Closed Banks in the Philippines have been getting shorter due to efforts by the BSP. Over the years, the BSP has launched programs to strengthen banks and to protect the public from bank failures.
Frequently Asked Questions about PDIC, deposit insurance and claims
PDIC Public Assistance Center
Private message via Facebook page:
Metro Manila hotline: (632) 8841-4141
Fax No.: (632) 8841-4085
Outside Metro Manila:
Toll Free: 1-800-1-888-7342 or