Is my GSave or Maya savings balance PDIC-insured?
Last updated: 2026-07-12 · Educational content; not legal advice.
Short answer
It depends on whether the money is a bank deposit or plain e-money. PDIC deposit insurance covers deposits in banks — up to ₱1,000,000 per depositor per bank since 15 March 2025 (raised from ₱500,000), under the PDIC Charter (RA 3591, as amended). A savings product held with a bank — for example GSave (powered by a partner bank) or a Maya Bank savings account — is a bank deposit and is PDIC-insured up to that limit. But a plain GCash or Maya wallet balance is e-money issued by a non-bank e-money issuer (e.g., G-Xchange, Inc.), not a deposit — it is not itself PDIC-insured, though the issuer must safeguard the funds under BSP e-money rules (MORB §702). Check whether your specific product is a 'bank' savings account to know if PDIC applies.
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Frequently asked
How much does PDIC cover?
Up to ₱1,000,000 per depositor per bank, effective 15 March 2025 (raised from ₱500,000), under RA 3591 as amended.
Is my GCash wallet balance covered?
A plain wallet balance is e-money from a non-bank issuer, so it is not itself PDIC-insured. It is protected instead by BSP e-money safeguarding rules — which is different from deposit insurance.
Is GSave or Maya savings covered?
If the product is held with a bank (GSave via a partner bank; Maya Bank savings), yes — it is a bank deposit insured up to ₱1,000,000 per depositor per bank. Confirm your product is a bank account.
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