The Philippine Deposit Insurance Corporation (PDIC) will start servicing the deposit insurance claims of depositors of the closed Banco Batangan (A Rural Bank) on August 14, 2012.

Depositors who have aggregate account balances of P10,000 and below do not need to file their deposit insurance claims with PDIC provided their addresses in the bank’s records are complete and updated; and they have no outstanding obligations with the closed bank. Depositors whose account balances are above P10,000 are required to file their claims on their respective appointment dates.

PDIC has started issuing Priority Numbers to depositors at their respective branches on August 13. To receive a Priority Number, depositors are required to present their evidences of deposit, such as Savings Passbook or Certificate of Time Deposit. The Priority Number corresponds to the appointment date when PDIC representatives will service the claims of depositors. These appointment dates are posted at the designated payout sites and the PDIC website, www.pdic.gov.ph.

PDIC will conduct the onsite claims settlement operations on August 14 until August 21, 2012 for the bank’s Head Office and Lipa City Branch. Depositors who maintained accounts with the Head Office are advised to file their claims at the Head Office located at J.P. Rizal St., Poblacion, Taysan, Batangas. Depositors of the Lipa City Branch should file their claims at the branch’s premises located along C.M. Recto Ave., Lipa City, Batangas.

Depositors who are issued Priority Numbers beyond the schedule of appointment dates may also file their claims with the PDIC representatives from August 14-21, 2012. 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.

Depositors who will not be able to file their claims during the claims settlement period may submit their claims personally at PDIC, 4th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino Street, Makati City, starting on September 3, 2012. Claims may also be filed through mail.

When filing deposit insurance claims, depositors are advised to present the duly accomplished Claim Form and Claim Status Sheet (CSS), original and photocopy of 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 are required to submit 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 signatory 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 Claim Form, CSS, and format of the SPA may be downloaded from the PDIC website at www.pdic.gov.ph.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Banco Batangan is on June 23, 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 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.