The Philippine Deposit Insurance Corporation (PDIC) urged depositors of the closed Capitol City Bank (Cavite), Rural Bank of Gainza (Camarines Sur) and Rural Bank of Majayjay (Laguna) to file their deposit insurance claims either through mail or at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City, Monday to Friday, from 8:00 a.m. to 5:00 p.m.

The PDIC made the call after it concluded the onsite claims settlement operations for the three closed banks more than six months ago.

The law provides that depositors have two years from bank closure to file their deposit insurance claims with the PDIC.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Capitol City Bank is on January 26, 2015; February 2, 2015 for RB of Gainza; and February 9, 2015 for RB of Majayjay. After the said dates, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim and the depositors shall file their claims against the proceeds of liquidation of the assets of the closed banks, if any, with PDIC, as Receiver and Liquidator of the closed banks.

Capitol City Bank was ordered closed by the Monetary Board (MB) and was placed under PDIC receivership by virtue of MB Resolution No. 119 dated January 24, 2013; RB of Gainza by virtue of MB Resolution No. 172 dated January 31, 2013; and RB of Majayjay by virtue of MB Resolution No. 241.A dated February 7, 2013.

Depositors of said closed banks are advised to present the general requirements, such as their accomplished Claim Form, original evidence of deposit and two (2) valid photo-bearing IDs with signature of the depositor, to the PDIC representatives when filing their claims. The PDIC will not accept claims, which are incomplete or lacking in requirements. Depositors may also file their claims through mail and enclose the same set of required documents.

The PDIC also said that depositors who have been notified of their deficiencies in the requirements for deposit insurance claims should already comply to facilitate release of their claims.

In addition to the general 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. 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 of a minor depositor.

The procedures and requirements for the filing of 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.

The PDIC reported that it had paid an aggregate P409.35 million in deposit insurance claims for the three closed banks involving 12,504 accounts as of September 30, 2013. The PDIC reiterated that all valid accounts and claims will be paid. The PDIC also reported that deposit insurance claims collectively amounting to P31.26 million for 1,361 accounts have not been filed by depositors of Capitol City Bank (371 accounts), RB of Gainza (11 accounts) and RB of Majayjay (979 accounts).

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 at 1-800-1-888-PDIC or 1-800-1-888-7342.

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