Perbadanan Insurans Deposits Malaysia (PIDM) fully protects depositors, whether individuals or businesses, holding conventional or islamic deposits, no matter the amount involved. You don’t have to pay for this protection and you don’t even have to apply for it.

Who is PIDM?

PIDM is a goverment agency established under the Akta Perbadanan Insurans Deposit Malaysia 2005 (Akta PIDM) to administer the national deposit insurance system in Malaysia.

What is Deposit Insurance?

Deposit insurance is a system established by the Malaysian Government to protect depositors against the loss of their funds placed with banks in the unlikely event of a bank failure. It is not a commercial of life insurance company.

How does it benefit you?

*PIDM protects your bank deposits
*Deposit insurance is provided automatically to all depositors.
*There is no charge to depositors for this protection.
*PIDM will promptly reimburse depositors should a bank fail.

What is the deposit insurance limit?

The Government of Malaysia announced a temporary deposit guarantee on 16 Octorber 2008 to cover all deposits held in member banks and certain finacial institutions. This guarantee protects deposits fully, no matter the amount involved, until 31 December 2010.

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Sure everyone always received unnecesarry call, email or sms and request for credit card numbers and our information. A lot of people become victim after reply and provide the information to them.

Below is useful tips for everyone from Bank Negara Malaysia

Bank Negara Malaysia would like to caution members of the public to be vigilant when receiving any calls or SMS claiming that it is from Bank Negara Malaysia or any commercial banks.

Beware of Fraudulent SMS and Telephone Calls Requesting Confirmation on Credit Card Transactions. The facts are:

There is no department called “Unit Kad Kredit Palsu” in Bank Negara Malaysia 8659-XXXX is not a Bank Negara Malaysia telephone line Bank Negara Malaysia will NEVER request for personal banking information through SMS or telephone calls.

Based on recent complaints received by Bank Negara Malaysia , there has been an increase in incidents of fraudsters making such calls and sending SMS to unknowing members of the public in order to fraudulently obtain their personal banking information, with the aim of siphoning monies from one’s account.

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