Leveraging technology to provide expedient service to clients, the Philippine Deposit Insurance Corporation (PDIC) has added LandBank’s Link.BizPortal digital payment facility to its array of available payment channels.
Using clients’ eligible source accounts such as LandBank or OFBank deposit account and/or corporate payment, e-wallet account and deposit accounts with other banks, the Link.BizPortal can now be tapped by clients of closed banks to pay for: 1) outstanding loans with closed banks, 2) rental fees of leased closed bank’s assets, and 3) purchase of closed bank’s assets.
Banks, on the other hand, may use the facility to settle selected obligations.
Additionally, suppliers and service providers may pay fees for bid documents through the Portal.
The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963, by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance.
Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor.
All deposit accounts of a depositor in a closed bank maintained in the same right and capacity shall be added together.
A joint account shall be insured separately from any individually-owned deposit account.
