The Philippine Deposit Insurance Corporation (PDIC) urged depositors of the closed Rural Bank of La Trinidad (Benguet), Rural Bank of Sto. Tomas (Davao del Norte) and Rural Bank of Hagonoy (Davao del Sur) to file their deposit insurance claims either through mail or personally 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 announcement after the onsite claims settlement operations for the three closed banks were completed 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 RB of La Trinidad is on August 24, 2015; September 16, 2015 for the closed RB of Sto. Tomas; and September 21, 2015 for the closed RB of Hagonoy. 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 La Trinidad was ordered closed by the Monetary Board (MB) and was placed under PDIC receivership by virtue of MB Resolution No. 1351.B dated August 15, 2013; RB of Sto. Tomas by virtue of MB Resolution No. 1469 dated September 13, 2013; and RB of Hagonoy by virtue of MB Resolution No. 1521.A dated September 19, 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 original 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 as an additional requirement, with the Claim Form signed by the parent. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney (SPA). In the case of a minor depositor, the SPA must be executed by the parent.

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 P124.92 million in deposit insurance claims for the three closed banks involving 10,646 accounts as of March 31, 2014. The PDIC reiterated that all valid accounts and claims will be paid. The PDIC also reported that claims for deposit insurance collectively amounting to P8.65 million for 1,961 accounts have not been filed by depositors of RB of La Trinidad (547 accounts), RB of Sto. Tomas (944 accounts), and RB of Hagonoy (470 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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