The Philippine Deposit Insurance Corporation (PDIC) announced that it will start paying valid deposit insurance claims of depositors of the closed Export and Industry Bank (EIB) on June 19. The payouts will be conducted in three batches.

Starting June 19, the first batch of the claims settlement operations (CSO) will be conducted at the Head Office and 12 other branches namely: Bel-Air, Pasay Road, Rufino, Acropolis, Cubao-P. Tuazon, Binan-Carmona, Calamba, Angeles, Baguio City, Dagupan, Cabanatuan and Mabalacat.

The second batch of CSO, starting June 29, will be for depositors of the following 12 branches: The Fort, Boni, Bacolod City, Cagayan de Oro, Cebu Plaridel, Cebu IT Park, Cebu Business Park, Davao Jacinto, Davao Recto, Iloilo, Imus and San Pedro.

On July 11, the third batch of CSO will be at the following branches: Annapolis-Greenhils, Greenhills-Ortigas, Ayala Alabang, Las Piñas, Banawe, Del Monte, E. Rodriguez, Roosevelt, Timog, Binondo, Juna Luna, Masangkay, Sto. Cristo, Tutuban, UN Avenue, BF Homes, NAIA, Emerald Avenue, San Miguel Avenue, Kalookan, LRT Monumento, Valenzuela, Malabon, Navotas and H.V. Dela Costa.

PDIC will start issuing Priority numbers to insured depositors on June 18 for the first batch; on June 28 for second batch; and July 10 for the third batch at the designated claims payout sites. The Priority Number corresponds to a specific appointment date when PDIC representatives will service the claims of depositors. This is to ensure an orderly CSO. The schedule of appointment dates will also be posted in the bank’s premises and at the PDIC website.

Depositors who maintain only one account with EIB which is in the form of Automated Teller Machine (ATM) accounts, are not required to file deposit insurance claims regardless of amount of deposit. All they need to do is to secure a printout of the ATM Balance Confirmation Receipt (BCR) from the designated EIB ATM sites during the specified dates starting on June 18, June 28 and July 10 for the first, second and third batches, respectively. The ATM card, printout of the ATM BCR and valid ID will be required in obtaining Priority Numbers from designated payout sites of their branches.

Claims of depositors will be processed onsite during the depositors’ appointment dates, and if found valid and supported with complete requirements, will be paid onsite.

Valid insured depositors who are not able to file their deposit insurance onsite during the designated dates may file their claims starting on August 9, 2012 either through mail or personally at the 4th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City, Monday to Friday, from 8:00 a.m. to 5:00 p.m. PDIC reminded that depositors have until April 28, 2014 to file their claims. After April 28, 2014, the PDIC will no longer accept any claim for insured deposits.

The schedules of the CSO, requirements and procedures in filing claims and instructions to depositors are posted in the premises of EIB Branches, designated payout sites and at the PDIC website, www.pdic.gov.ph.

PDIC assured depositors that it will pay all valid deposit insurance claims as soon as possible.

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.

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.

RELATED ARTICLES:

1. Notice to the Depositors of the Closed Export and Industry Bank
2. Statement of the Philippine Deposit Insurance Corporation on Export & Industry Bank
3. PDIC starts paying EIB depositors with account balances of ten thousand pesos and below
4. PDIC Statement on EIB Rehabilitation
5. Schedule of PDIC Depositors Forum for Depositors of the Closed Export & Industry Bank (EIB)
6. MB places Export & Industry Bank under PDIC receivership
   All valid insured deposit claims will be paid
7. Statement of the Philippine Deposit Insurance Corporation on Export and Industry Bank
   April 27, 2012
8. 2012-08 - Export & Industry Bank, Inc.