November 4, 2016

The Philippine Deposit Insurance Corporation (PDIC) will service the deposit insurance claims of depositors of the closed Sampaguita Savings Bank, Inc. on November 7 to 8, 2016, 8:00 AM to 5:00 PM. The claims settlement operations shall be held at the bank's office premises located at #10 J. Luna St., Brgy. Poblacion, San Pedro City, Laguna.

Filing of claims is waived for depositors with valid deposit balances of PHP100,000 and below; who have no outstanding loans or payables to the bank, and who have updated and complete mailing address in the bank records or through the PDIC-provided Mailing Address Update Form (MAUF). All other depositors, regardless of the type of their account or account balance, have to file deposit insurance claims. The PDIC said that all valid claims will be paid.

When filing claims for deposit insurance, depositors have to personally present their Savings Passbook, Certificate of Time Deposit or other evidence of deposit, and two (2) valid photo-bearing IDs with their signature.

Depositors who are below 18 years old should be represented by a parent. For these depositors, a photocopy of the child's Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar is required. The parent should sign the Claim Form and the other requirements.

PDIC will not accept claims which are incomplete or lack the requisite documents. The deposit insurer may also require other documents in the course of processing of claims.

Depositors who are not able to file their claims during the claims settlement operations period in the bank site may submit their claims either through mail to PDIC or personally at the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City starting on November 14, 2016.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Sampaguita Savings Bank, Inc. is on October 15, 2018. After this date, PDIC as Deposit Insurer shall no longer accept any Sampaguita Savings Bank, Inc. deposit insurance claims.

For more information on the payout process and requirements, 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). The procedures and requirements for filing of deposit insurance claims are also posted in the PDIC website, www.pdic.gov.ph. The Claim Form and format of the Special Power of Attorney (SPA) may also be downloaded free of charge from the PDIC website.

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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 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.