It's very obvious that PDIC insures 250,000 pesos per account holder..not per account. Furthermore, as the law currently is in the lovely islands, I've zero doubt that joint accounts get factored into the equation at 50% ratios per account holder (and nullified if the 250,000 limit has been breached by single accounts) - so joint accounts are not a safety valve - contrary to the shill schemes...and one I'm sure the shills bloody well knew about...
Had a couple offers to join in myself using their 'clever strategies for protection' and I saw thru them easy enough....
'The law also promotes greater market discipline as depositors are deterred from splitting large deposit balances in a bank to get around the insurance limit. The new ceiling is now to be applied on the sum of all the shares of a depositor in all joint accounts in a closed bank.' From PDIC website and law since 2004. |