PDIC a goverment insurance company thats doesent pay

[kermit123]

right a goverment insurance company that doesnt pay. god this company PDIC is trying every trick in book to delay and not pay pour insured deposits .from day one the PDIC have said it has to protect the tax payers money *******s . its not tax payers money its a insurance company that we pay a insurance premium on our deposits con con con thats name of game here . every bank has to have PDIC insurance what ever every bank.and when you claim thay change the rules as thay go along saying that if you have a account thats in childs name . it was ok when you deposited the money but when you claim its diffrent .if the childs 7 or above and in philippines thay have to go to bank to claim .splitting off accounts again its ok by PDIC web site to do it but if you claim oww no you carnt split accounts all *******s but its writen in PDIC web site .i have and will never keep more than 50.000 php in any account in this country with PDIC insurance again even my wife whos pinoy said this goverments so bent.i advice any pinoy or western person never ever put money in philippine bank with PDIC theres only 140,000 account holders with banks that closed what if BPI or metro bank shut god help you all .couse PDIC wont pay you thay ll change rules again .thay really are a bunch off we set up group it looks like court to get our money back . i really think when PDIC went into closed banks thay destroyed books and legers again saying ledgers and books arnt there so thay carnt pay . ffs we have no control with the books and ledgers under BANK laws thay carnt show us the books at bank. thay really are trying it on here .i really hope all westerners pull out there money and let this country (sorry goverment sink in there own **** ) gaz/

[somebody]

Sorry this is happening to you and others and I hope it gets resolved soon.

[fred]

Sorry this is happening to you and others and I hope it gets resolved soon.

Yeah....Me too.

[David House]

I feel very differently about this! I am assuming that you have "invested" in the Legacy group. In my view the PDIC is simply doing it's job and making sure that only genuine claiments get paid. Your anger should be directed against those in Legacy who devised this Ponzi scam and those agents who mis-sold the deals. The PDIC is an insurance scheme and no insurer is going to pay out on any uninsured claims. Rightly so, as everyone else would have to pick up the tab because the PDIC gets its funds from regular banks. I want the PDIC to try to avoid as many payouts as possible and if any of the various tricks which were organised, through establishing multiple accounts, in a variety of names, to ensure all fell below the insured limits, can be established as falling outside of their insurance then good for them. Any "investor" who "suffers" from such action should then go after who-ever sold them the deal in the first place. This always was a "punt", a get rich quick scheme, so those who lose should not complain to anyone other than those who told them it was all going to be OK. There were plenty of people advising caution about Legacy, me included, well before it collapsed so the warnings were all out there.

[eagles]

sorry you were VICTIM of "bank run" in the phils.. I hope this message will spread across .. be careful of your hard earned money specially investing in Phils. I am Pinay, i should be defending our laws, But there were many flaws in our laws and banking system.... Got some friends whose banks closed and their millions turned into 250,000 pesos ( coz its the maximum amount that PDIC) gives as insurance for per account deposit.. This condition wasstip ulated when anyone opens a bank account in the Phils

[fred]

I feel very differently about this! I am assuming that you have "invested" in the Legacy group. In my view the PDIC is simply doing it's job and making sure that only genuine claiments get paid.

When you say "genuine" I assume you mean the genuine PDIC member banks as listed on the PDIC official website?

The PDIC is an insurance scheme and no insurer is going to pay out on any uninsured claims

It is a Government insurance scheme and its rules are clear on its official Gov website. The opening of multiple accounts via wife and family including joint accounts were valid and covered up to P250,000 per acc according to their rules.
No good moving the goal posts now they have lost the game...
Well of course they can but then what foreign investor in their right mind would ever keep a Peso account here ever again? tsk tsk.

[somebody]

When you say "genuine" I assume you mean the genuine PDIC member banks as listed on the PDIC official website?

It is a Government insurance scheme and its rules are clear on its official Gov website. The opening of multiple accounts via wife and family including joint accounts were valid and covered up to P250,000 per acc according to their rules.
No good moving the goal posts now they have lost the game...
Well of course they can but then what foreign investor in their right mind would ever keep a Peso account here ever again? tsk tsk.

While I hope people get what they should back and as quickly as possible.

I do remebering hearing from people in the UK. Who thought that if one of the big banks went that the UK couldn't afford it. Ie to try and cover and pay out all costs etc as the fund in the uk would not cover all the claims.


Thats why I understand they went the baill out way keeping them ticking over and covering debts (I understand the billions the goverment have thrown at the banks is more in promises and gurantees rather than actual hard cash. But the money still has to be there and is tied up etc.
I have heard from several sources RBS is bigger than the UK Ecomony for example.

IF the banks had not been propped up and a lot of favours called in etc. I cant see how the goverment could have covered them.

I was told late last year the UK's cover was far to small to cover if a major high street operation went down. That was before they merged and consolidated..

Anyway hoping you all hear some good news soon