The Philippine Deposit Insurance Corporation (PDIC) urged depositors of the closed Rural Bank of Buenavista (Agusan del Norte), La Consolacion Rural Bank (Laguna) and Rural Bank of Kinogitan (Misamis Oriental) 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 Rural Bank of Buenavista is on March 4, 2015; March 15, 2015 for La Consolacion Rural Bank; and March 27, 2015 for Rural Bank of Kinogitan. 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.

RB of Buenavista was ordered closed by the Monetary Board (MB) and was placed under PDIC receivership by virtue of MB Resolution No. 377 dated March 4, 2013; La Consolacion RB by virtue of MB Resolution No. 417.A dated March 15, 2013; and RB of Kinogitan by virtue of MB Resolution No. 508.B dated March 26, 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 P79.36 million in deposit insurance claims for the three closed banks involving 2,791 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 P6.15 million for 1,317 accounts have not been filed by depositors of RB of Buenavista (742 accounts), La Consolacion RB (75 accounts), and RB of Kinogitan (500 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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