Maximum Deposit Insurance for Each Depositor Php500,000
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HOW TO FILE CLAIM FOR DEPOSIT INSURANCE   

DEPOSITORS NOT REQUIRED TO FILE DEPOSIT INSURANCE CLAIMS

Depositors with valid deposit accounts with balances of Php100,000 and below are not required to file claims provided they have no obligations with the closed bank and have complete and updated addresses in the bank records or have updated these through the Mailing Address Update Form (MAUF) issued by the PDIC. Depositors with deposit balances of Php100,000 and below may update their addresses using the MAUF and submit to PDIC representatives stationed at the closed bank premises before the start of the onsite claims settlement operations.

These depositors are entitled to immediate/early payment of deposit insurance claim as part of PDIC’s initiative to provide convenience to small depositors. Payments to these depositors are sent as postal money orders to the depositors’ mailing addresses.



1. WHEN ARE CLAIMS FILED?

Claims are filed during the claims settlement operations period, as announced in the Notice to Depositors published in national or local newspapers, or posted in the bank premises and conspicuous places within the locality, and in the PDIC website.

Depositors have two (2) years from PDIC’s takeover of the closed bank to file their deposit insurance claims.

2. WHO ARE REQUIRED TO FILE DEPOSIT INSURANCE CLAIMS?

  2.1 Depositors with valid deposit accounts with balances of more than Php100,000.

  2.2 Depositors who have outstanding obligations with the closed bank regardless of amount of deposits.

  2.3 Depositors with account balances of less than Php100,000 who have no updated addresses in the bank records or who have not updated their addresses through the Mailing Address Update Form (MAUF) issued by the PDIC.

  2.4 Depositors who maintain their accounts under the name of business entities, regardless of type of account and account balance.

  2.5 Depositors with accounts not eligible for early payment, regardless of type of account and account balance per advice of PDIC.


3. WHAT ARE THE STEPS IN FILING CLAIMS?

  3.1 Prepare the following documents:

3.1.1 Original evidence of deposits such as savings passbook, certificate of time deposit, bank statement, unused checks, and ATM card.

3.1.2 Original copy of TWO (2) VALID PHOTO-BEARING IDENTIFICATION DOCUMENTS (IDs) with clear signature of depositor/claimant such as Driver’s License, SSS/ GSIS ID, Senior Citizen’s ID, Passport, PRC ID, OWWA/ OFW ID, Seaman’s ID, Alien Certification of Registration ID, Voter’s ID, IBP. Please ensure that the ID number is clear and legible.

3.1.3 If the depositor is below 18 years old, a photocopy of his/her birth certificate from the National Statistics Office (NSO) or duly certified copy from the local civil registrar and valid IDs of the parent.

3.1.4 Original copy of a notarized Special Power of Attorney (SPA) for claimants who are not the signatories in the bank records. In the case of minor depositor, the SPA must be executed by the parent.

  3.2 Submit to:

3.2.1 If filing Personally

The PDIC representatives at the premises of the closed bank during Claims Settlement Operations (CSO) or to the PDIC Public Assistance Center at the 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City after the onsite CSO.

3.2.2 If filing through Mail

Send the accomplished and notarized Claim Form and requirements to:

  The Claims Processing Department
Philippine Deposit Insurance Corporation
4/F SSS Building, 6782 Ayala Avenue corner
V.A. Rufino Street, 1226 Makati City


The Claim Form may be downloaded from the PDIC website, www.pdic.gov.ph. The signature in the Claim Form should tally with the depositor’s signature in the closed bank’s records and in his/her IDs. The PDIC likewise sends letter-notices to depositors on record who were unable to file their claims during the onsite CSO on how, where and when to file their claims. The Claim Form is conveniently enclosed in the letter-notice.


4. WHO SHOULD SIGN THE CLAIM FORM?

  4.1 DEPOSITOR of the account
  -  for depositors 18 years old and above


  4.2 PARENT
  -  if the depositor is below 18 years old


  4.3 AGENT
  -  in the case of “By” accounts


  4.4 TRUSTEE
  -  in the case of “In Trust For (ITF)” accounts


  4.5 EACH DEPOSITOR
  -  in the case of joint accounts such as “Or”, “And/Or” or “And” accounts


  If a depositor is unable to file his claim personally, a representative may file on his behalf by presenting a duly notarized Special Power of Attorney (SPA,) or in the case of a depositor residing abroad, an SPA duly authenticated by the Philippine Consulate nearest his/her residence.


5. HOW CAN CLAIMS BE FOLLOWED UP?

        Status of claims may be followed up through any of the following modes:

  • Phone
    Public Assistance Hotlines
    (632) 841-4630/(632) 841-4631
    (for depositors in Metro Manila)

  • Toll Free
    1-800-1-888-7342 or 1-800-1-888-PDIC
    (for depositors outside Metro Manila)

  • E-mail
    pad@pdic.gov.ph

  • Helpdesk/Public Assistance Center
    3/F SSS Bldg., 6782 Ayala Avenue
    corner V.A. Rufino Street,
    1226 Makati City

In following up a deposit insurance claim, the depositor should have the following information ready for easy reference:
  • Name of the closed bank
  • Name of the depositor
  • Claim Number and/or Account Number

Remember!

  1. Claims should be filed within the two-year prescriptive period after PDIC’s takeover of the closed bank.
  2. The PDIC will not accept claims that are incomplete or lacking in requirements.
  3. The PDIC may also require additional documents in the course of claims processing.
  4. The PDIC, as Receiver, has the authority to adjust the interest rate on unpaid interests on deposits if such rate is deemed unreasonably higher compared to market rates.
  5. The standard procedures for claims settlement may not apply if the closed bank fails to properly turn over to the PDIC the closed bank’s complete records. Without the complete records, the PDIC will not be able to conduct the validation process for bank deposits, a requirement before deposit insurance claims are paid.



Downloadable Forms

Claim Form
Special Power of Attorney

PDIC Brochures

Filing Claims for Deposit Insurance
PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
to insure the deposits of all banks. PDIC exists to
protect depositors by providing permanent and
continuing deposit insurance coverage for the
depositing public and help promote financial
stability
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Questions? Need Help? Click Frequently Asked Questions Or contact: Tel. No.: (632) 841-4630/(632) 841-4631
(for Metro Manila depositors)
Fax No.: (632) 817-3566
Email: info@pdic.gov.ph
Depositors outside Metro Manila may call
Toll Free: 1-800-1-888-7342 or
1-800-1-888-PDIC
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