The Philippine Deposit Insurance Corporation (PDIC) urged depositors of the closed Asian Consumers Bank, Rural Bank of Oroquieta (Misamis Occidental), and Banco Carmona to file their deposit insurance claims before the expiry period. The PDIC Charter (Republic Act 3591, As Amended) provides that depositors have until two years from bank closure to file their deposit insurance claims with the PDIC either through mail or personally during business hours at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City. The PDIC reiterated that all valid claims will be paid.

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; July 22, 2016 for Rural Bank of Oroquieta; and August 1, 2016 for Banco Carmona. PDIC made the call after it concluded the onsite claims settlement operations for the three closed banks more than six months ago.

The PDIC shall no longer accept any deposit insurance claims filed after the said dates. Depositors may, however, still file their claims against the closed banks through PDIC as liquidator. Payment of claims will depend on the sufficiency of the assets of the closed banks and shall be subject to the approval of the Liquidation Court.

Asian Consumers Bank, Rural Bank of Oroquieta and Banco Carmona were ordered closed by the Monetary Board (MB) and placed under PDIC receivership during the second and third quarters of 2014.

The PDIC reported that as of January 31, 2015, it had paid P100.8 million for Asian Consumers Bank, P69.1 million for Rural Bank of Oroquieta, and P30.1 million for Banco Carmona, or an aggregate of P200.0 million in deposit insurance claims to depositors of the three closed banks involving a total of 6,792 accounts. Estimated deposit insurance claims collectively amounting to P16.4 million for 3,125 accounts have not been filed by depositors of Asian Consumers Bank (134 accounts), Rural Bank of Oroquieta (2,102 accounts), and Banco Carmona (889 accounts).

Depositors of said closed banks are advised to present the general requirements for filing deposit insurance claims, such as their accomplished Claim Forms, original evidence of deposit and two (2) valid photo-bearing IDs with signature of the depositor, to the PDIC representatives. Depositors may also file their claims through mail and enclose the same set of required documents. The PDIC will not accept claims which are incomplete or lacking in requirements.

The PDIC also reminded depositors who have been notified of deficiencies in the documents submitted to support their deposit insurance claims to comply with the requirements 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. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor.

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.

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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