PHILIPPINE DEPOSIT INSURANCE CORPORATION:

ILLUSTRATIVE EXAMPLE:

SINGLE ACCOUNTS / SOLE PROPRIETORSHIP /

"BY" ACCOUNTS / "ITF" ACCOUNTS

Charter Provision: Sec. 4 (g):

"x x x In determining such amount due to any depositor, there shall be added together all deposits in
the bank maintained in the same right and capacity for his benefit either in his own name or in the
name of others. x x x"

Illustrative Cases:

Case 1: Single Account/s

Computation of Insured and Uninsured Amount: XXX

Explanations:

• All the four deposit accounts (i.e., Account Nos. 1 to 4) are owned by the same person, Juan Dela
Cruz, and maintained in the same Bank (Head Office and all its Branches), thus, the balance of the
accounts will be added together, as they are maintained in the same right and capacity, regardless
of account type and banking unit/branch. Total amount of insured deposit cannot exceed P
500,000.00, the Maximum Deposit Insurance Coverage (MDIC).

• Of the total balance of P 900,000.00, the amount insured is P 500,000.00 and the uninsured
amount is P 400,000.00.
 Case 2: Single Account/s and Sole Proprietorship

Computation of Insured and Uninsured Amount:

Explanations:

• The first three deposit accounts (i.e., Account Nos. 1 to 3) are owned by the same person,
Juan Dela Cruz, hence, the balance of the accounts will be added together.

• A sole proprietor is wholly owned by the owner, hence, the Dela Cruz Flower Shop
(Account No. 4) owned by Juan Dela Cruz will be added to his first three accounts as all of
them (Account Nos. 1 to 4) are maintained in the same right and capacity. The total amount
insured cannot exceed P500,000.00.

• Of the total balance of P 900,000.00, the amount insured is P 500,000.00 and the uninsured
amount is P 400,000.00.
 Case 3: Single, "ITF" and "By" Accounts

Computation of Insured and Uninsured Amount:

Explanations:

• Juan Dela Cruz is the principal owner of three accounts (i.e., Account Nos. 1, 3 & 4). As these
are maintained in the same right and capacity, these accounts will be consolidated.

The single account (Account No. 1) is under his name alone and the other two are "By"
accounts (Account Nos. 3 and 4) which are owned by him as the PRINCIPAL DEPOSITOR or
BENEFICIAL OWNER while Maria Dela Cruz and Pedro Dela Cruz ACTED AS HIS AGENTS
only. Thus, the total insured amount payable to Juan Dela Cruz is P 500,000.00 and the
uninsured amount is P700,000.00.

• Antonio Dela Cruz on the other hand has only one account (Account No. 2), an "ITF"
account in which Antonio is the PRINCIPAL OR BENEFICIAL OWNER and Juan acted as
AGENT. Thus, Antonio Dela Cruz is entitled to a separate deposit insurance of P 400,000.00
for his savings deposit.
 JOINT ACCOUNTS

Charter Provision:

• A joint account regardless of whether the conjunction "and", "or", "and/or" is used, shall be
insured separately from any individually-owned deposit account/s.

• If the account is held jointly by two or more natural persons, or by two or more juridical
persons or entities, the maximum insured deposit shall be divided into as many equal
shares as there are individuals, juridical person or entities, unless a different sharing is
stipulated in the document of deposit.

• If the account is held by a juridical person or entity jointly with one or more natural
persons, the maximum insured deposit shall be presumed to belong entirely to such
juridical person or entity.

Illustrative Cases:

Case 4: Single Account and Joint Account/s

Computation of Insured and Uninsured Amount:

Breakdown of Insured and Uninsured Amount:

Explanations:
 • Juan Dela Cruz has three accounts, one is under his name alone (Account No. 1) and the
other two are jointly maintained by him and Maria or Pedro Dela Cruz (Account Nos. 2 &
3). For the Savings Deposit individually-owned by Juan Dela Cruz (Account No. 1), he is
entitled to a separate deposit insurance of P 500,000.00. The uninsured deposit is
P100,000.00.

• For the two accounts (Account Nos. 2 & 3) which are jointly maintained by him and Maria
or Pedro Dela Cruz, each joint account is considered equally shared among co-depositors
unless otherwise indicated in the deposit document. The insurance coverage of
P500,000.00 will apply to the sum of shares of each co-depositor in the insured portion of
each joint deposit account.

• For Account No. 2, the maximum deposit insurance is P500,000.00 which shall be divided
equally between Juan and Maria. The share of Juan Dela Cruz is P250,000.00. There is no
uninsured amount.

• For Account No. 3, the maximum deposit insurance is P500,000.00 which shall be divided
equally between Juan and Pedro. The share of Juan Dela Cruz is P250,000.00. The
uninsured amount is P300,000.00, thus, his share in the uninsured amount is P150,000.00.

Case 5: Accounts Jointly Owned by Individuals or Natural Persons

Computation of Insured and Uninsured Amount:

Breakdown of Insured and Uninsured Amount:

Explanations:

• The individually-owned deposit or single deposit of Juan Dela Cruz (Account No. 1) is
entitled to a separate deposit insurance of P500,000.00.

• For Savings Deposit jointly owned by Juan and Maria Dela Cruz (Account No. 2), the share
of Juan and Maria in the MDIC is P250,00.00 each while their share in the uninsured
portion is P50,000.00 each.

• Shares of each co-owner in each of the joint accounts are added together and insured up to
P500,000.00 MDIC.

• Juan Dela Cruz has three accounts jointly maintained with Maria and/or Pedro Dela Cruz.
All his shares in each of these accounts are added together. Hence, of the P 650,000.00 total
shares of Juan, P 500,000.00 is covered by deposit insurance.

• Maria Dela Cruz and Pedro Dela Cruz are also entitled to deposit insurance for their
respective shares in the accounts.

Case 6: Accounts Jointly Owned by Individuals/ Natural Persons and Juridical Persons or
Entities

Computation of Insured and Uninsured Amount:

Explanations:

• The deposit insurance for Savings Deposit (Account No. 1) is to be shared equally between
Juan and Maria Dela Cruz. Hence, each of them is entitled to P 250,000.00 deposit
insurance.

• XYZ Corporation is entitled to P500,000.00 deposit insurance for its Time Deposit (Account
No. 2).
• The Demand Deposit (Account No. 3) maintained in the name of Juan Dela Cruz and ABC
Corporation, is presumed to belong entirely to ABC Corporation. Hence, ABC Corporation is
entitled to the P 500,000.00 deposit insurance.