STAGE 1 Examination of Deposit Accounts

Deposit accounts are examined and validated against records of a closed bank upon takeover.

STAGE 2 – Filing of Claims

Filing of claims for deposit insurance by the depositor following the steps laid down in the Notice to the Depositors published by the PDIC.

STAGE 3 – Evaluation of Claims

Filed claims are evaluated by the PDIC in accordance with established guidelines.

STAGE 4 – Decision on the Claims

Claims are resolved by the PDIC in accordance with established guidelines.

STAGE 5 – Reconsideration of Denied Claims

1. Depositor/s with claims wholly or partially denied may request for a reconsideration within 60 days from receipt of the notice of denial of their claim/s.

2. The request must be in writing. It must be accompanied by a duly notarized affidavit together with documents that would support the deposit/s made in the bank. The supporting documents must be new evidence that have not been submitted at the time the claims were filed.

3. Request for reconsideration filed after the abovementioned 60-day period shall no longer be entertained by the PDIC and the decision of the PDIC denying such claim/s shall be deemed final and executory.