The Philippine Deposit Insurance Corporation (PDIC) will service the deposit insurance claims of depositors of the closed Siam Bank (A Rural Bank), Inc. starting on January 9, 2013.

The claims settlement operations will be conducted until January 14, 2013 for the bank’s Head Office located at the G/F Executive Centrum Bldg., J. R. Borja St., Cagayan De Oro City, Misamis Oriental; and its Lugait Branch located in Purok Masilakon, Poblacion, Lugait, Misamis Oriental.

Further, claims settlement operations will be until January 15, 2013 for the Iligan and Valencia branches. Claims settlement operations for Iligan Branch will be conducted at Limchay Bldg., Quezon Ave. Ext., Palao, Iligan City, Lanao Del Norte, while servicing of claims for the Valencia Branch will be held at Garcia Bldg., Catarata St., Valencia City, Bukidnon. Meanwhile, claims settlement operations for the Villanueva Branch will be held in Poblacion 3, Villanueva, Misamis Oriental until January 16, 2013. The announcement on the schedule and other details of the claims settlement operations is posted at the bank premises and on the PDIC website, www.pdic.gov.ph.

Last January 7 and 8, the PDIC issued Control Numbers which correspond to the appointment date when PDIC representatives will service the claims of depositors. These appointment dates are posted at the bank’s premises and on the PDIC website. All claims filed during the specified appointment dates during the claims settlement operations will be processed onsite and if found to be valid, will also be paid onsite.

Meanwhile, depositors who are issued Control Numbers beyond the schedule of appointment dates may also file their claims with the PDIC representatives during the period of the claims settlement operations. However, their claims will be processed at the PDIC Home Office in Makati City and payment of their insured deposits will be sent through mail.

Earlier, PDIC sent payments through mail to 2,755 Siam Bank depositors who were not required to file deposit insurance claims. These are depositors who have account balances of P15,000 and below, who have complete and updated addresses in the bank’s records, who have updated their addresses using the Depositors Update Form and who have no outstanding obligations with Siam Bank.

Starting on January 25, 2013, depositors who are not able to file their claims during the claims settlement period may submit their claims either through mail to PDIC or personally at the PDIC Office, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form and Claim Status Sheet (CSS), original and photocopy of the evidence of deposit, and original and photocopy of two (2) valid photo-bearing IDs with signature of the depositor. Depositors may also file their claims through mail and enclose the same set of document requirements.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement. Claimants who are not the signatories in the bank records are required to bring an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor.

The procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form, Claim Status Sheet, and format of the Special Power of Attorney may also be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Siam Bank is on November 24, 2014. After said date, PDIC as Deposit Insurer, shall no longer accept any deposit insurance claim.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph.

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