Joint account is an account held jointly by two
or more natural persons, or by two or more juridical persons or entities.
Joint account regardless of
whether the conjunction "and," "or," "and/or" is used, shall be insured separately
from any single or singly-owned deposit account.
If the account is held jointly by two or more natural persons,
or by two or more juridical persons/entities, the maximum insured deposit shall be
divided into as many equal
shares as there are natural persons or juridical entities, unless a different sharing
is indicated in the deposit document.
If the account is held by a juridical person/entity jointly with
one or more natural persons, the maximum insured deposit shall be presumed to belong
entirely to such juridical person/entity
The aggregate of the interests of each co-owner over several joint accounts,
whether owned by the same or different combinations, shall likewise be subject
to the Maximum Deposit Insurance Coverage of Php500,000.