The Philippine Deposit Insurance Corporation (PDIC) will service the deposit insurance claims of depositors of the closed Rural Bank of Badiangan (Iloilo), Inc. (RB Badiangan) from September 7 to 18, 2012 at the bank’s premises located at R.C. Tabiana St., Badiangan, Iloilo. The announcement on the claims settlement operations (CSO) is posted at the bank premises and on the PDIC website, www.pdic.gov.ph.
Depositors whose account balances are P10,000 and above; and depositors who have accounts with balances of P10,000 and below and have yet to receive their Notice of Payment are advised to secure Control Numbers at the bank premises starting on September 6, 2012. The Control Number corresponds to the appointment date when PDIC representatives will service the claims of depositors. These appointment dates are posted at the bank premises and on the PDIC website.
To secure a Control Number, depositors are required to present to the PDIC representatives their evidence of deposits such as Savings Passbook or Certificate of Time Deposit. All claims filed during the specified appointment dates during the CSO will be processed onsite and if found to be valid, will also be paid onsite.
Depositors who are issued Control Numbers beyond the schedule of appointment dates may also file their claims with the PDIC representatives during the period of the CSO. However, their claims will be processed at the PDIC Home Office in Makati City and payment of their insured deposits will be sent through mail.
Earlier, PDIC sent payments through mail to depositors who were not required to file deposit insurance claims. These are depositors who have aggregate account balances of P10,000 and below, who have complete and updated addresses in the bank’s records, and who have no outstanding obligations with RB Badiangan.
Starting on September 27, 2012, depositors who will not be able to file their claims during the CSO 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.
When filing deposit insurance claims, depositors are advised to mail or personally present their duly accomplished Claim Forms and Claim Status Sheets (CSS), original and photocopy of the evidence of deposit, and original and photocopy of two (2) valid photo-bearing IDs with signature of the depositor. As an additional requirement, 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; and valid IDs of any of their parents. Claimants who are not the signatories in the bank records are required to bring an original copy of a notarized Special Power of Attorney (SPA) of the depositor or parent of a minor depositor.
The procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form, CSS, and format of the SPA may be downloaded from the PDIC website.
In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed RB Badiangan is on July 7, 2014. After said date, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim.
For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at email@example.com.
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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 permanent and continuing 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.