Savings bank

PDIC releases payments to depositors of closed Metro-Cebu State Savings Bank

LA Philippine Deposit Insurance Corp. (PDIC) announced that it had started paying deposit insurance through postal money orders (PMO) on May 2, 2022 to all depositors eligible for outright payment who maintained deposits with Metro-Cebu Public Savings Bank closed.

Eligible for deposit insurance outright payment are individual depositors with valid deposit balances of P100,000 and below who have no loans outstanding with the bank closed and have a full mailing address on file with the bank or have updated this information through the PDIC Mailing Address Update Form.

PMOs of 15,000 pesos or less can be cashed either at the local post office or at the nearest branch of the Land Bank of the Philippines. Meanwhile, PMOs over P15,000 can be deposited into the depositor’s account at any local bank.

Depositors who have not received their checks after 30 June 2022 from their local post office are advised to contact the PDIC Helpline during office hours on telephone (02) 8841-4141, or by email PDIC at

Filers outside of Metro Manila can call the PDIC toll-free hotline during business hours at 1-800-1-888-PDIC (7342). Inquiries can also be directed to the official PDIC Facebook page at

The Metro-Cebu Public Savings Bank was closed pursuant to Monetary Board Resolution 434.E dated March 31, 2022.

It is a three-unit savings bank headquartered on the second floor of the Sia Building, N. Bacalso Ave., Barangay Duljo-Fatima (Poblacion), Cebu City. Its branches are located in Lapu-Lapu City, Cebu and Tabunok in Talisay City, Cebu. (PR)


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