The Philippine Deposit Insurance Corporation (PDIC) announced that it will continue to receive and process deposit insurance claims from depositors of the closed Rural Bank of Naval (Biliran), Inc. at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City. Claims may also be filed through mail.

The state deposit insurer has already concluded the onsite claims settlement operations for RB Naval at the bank’s premises last June 28, 2013.

PDIC sent notices of payment amounting to P4.48 million involving 1,399 accounts with balances of P15,000 and below where the filing of claims is waived by PDIC. Meanwhile, PDIC paid 697 claims during the onsite claims settlement operations involving 606 accounts for a total amount of P53.53 million worth of deposits.

As of June 28, 2013, PDIC has yet to receive deposit insurance claims for 657 accounts, or 45% out of 1,468 accounts that require the filing of claims. The total amount of deposits covered by these claims is P12.26 million.

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 submit an original copy of a notarized Special Power of Attorney of the depositor or parent in the case 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 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 RB Naval is on June 1, 2015. After the 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. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account. PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.