ILLUSTRATIVE CASES ON SINGLE ACCOUNTS

SINGLE ACCOUNTS / SOLE PROPRIETORSHIP /

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:

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:

 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.
ILLUSTRATIVE CASES ON JOINT ACCOUNTS

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.