The Philippine Deposit Insurance Corporation (PDIC) will start servicing the deposit insurance claims of depositors of the closed Asian Consumers Bank (A Rural Bank), Inc. on July 16, 2014 from 8 AM to 5 PM.

Servicing of claims for the bank's Head Office and its Calasiao and San Carlos branches will be on July 16 to 17, 2014. The payout site for depositors of the Head Office is at its premises located along Magsaysay Ave., Poblacion, Basista, Pangasinan. Servicing of claims for depositors of the Calasiao Branch is at its premises located at No. 4 De Venecia Road, Nalsian, Calasiao, Pangasinan. Meanwhile, depositors of the bank's San Carlos Branch will be serviced at its premises located at Rizal St., San Carlos City, Pangasinan. Lastly, servicing of claims for the bank's Urdaneta Branch is on July 16, 2014 only and will be held at Ancar Motors Compound, McArthur Highway, Nancayasan, Urdaneta City, Pangasinan.

Depositors with valid deposit balances of P50,000 and below, with complete mailing address found in the bank records or updated through the Mailing Address Update Form, and without any outstanding obligation with the bank do not need to file claims.

Depositors whose accounts have balances of more than P50,000 and who have outstanding obligations with the closed Asian Consumers Bank regardless of type of account are required to file their deposit insurance claims. The announcement on the claims settlement operations of Asian Consumers Bank is posted at its Head Office and branches and on the PDIC website, www.pdic.gov.ph.

When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original copy of evidence of deposit such as Savings Passbook and Certificate of Time Deposit, and 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, with the Claim Form signed by the parent and the other requirements. 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.

Depositors who are not able to file their claims during the claims settlement operations 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 starting July 28, 2014.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Asian Consumers Bank is on June 27, 2016. After this date, PDIC as Deposit Insurer, shall no longer accept any deposit insurance claim.

The PDIC said that all valid claims will be paid. For deposits to be considered valid, it must be recorded in the bank's records and must have evidence of inflow of funds, based on the results of PDIC examination. PDIC, as Receiver, has the authority to adjust the interest rate on unpaid interests on deposits of a bank if such rate is deemed unreasonable.

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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