The Philippine Deposit Insurance Corporation (PDIC) will start servicing the deposit insurance claims of depositors of the closed New Rural Bank of Tagkawayan, Inc. (New RB Tagkawayan) on August 16, 2012.

PDIC will be conducting the onsite claims settlement operations (CSO) at the Head Office and the Calauag Branch from August 16 to August 27, 2012. Meanwhile, depositors of the Lucena Branch will be serviced from August 16 to August 21, while those of the Rosario and San Juan Branches will be serviced from August 16 to August 24. Moreover, the onsite CSO for the Candelaria Branch will run from August 16 to August 29 while depositors of the Quezon and Arellano Sariaya Branches will be serviced from August 16 to September 5, 2012.

The CSO will be held at the designated payout sites specifically at the Head Office located in Brgy. Poblacion, Tagkawayan, Quezon, and at the premises of the bank’s Calauag, Quezon, Candelaria, Lucena, Rosario and San Juan branches. The CSO for the Arellano Sariaya Branch will be held at the premises of the Quezon Branch. The CSO schedule is posted at the designated payout sites and at the PDIC website, www.pdic.gov.ph.

Starting on August 15, 2012, PDIC will issue Priority Numbers to depositors at the designated payout sites. To get a Priority Number, depositors are required to present their evidence of deposits 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.

Depositors who are issued Priority 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.

As early as the first week of July, 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 the New RB Tagkawayan. Meanwhile, depositors whose account balances are above P10,000 are required to file their claims during their respective appointment dates.

Depositors who will not be able to file their claims during the CSO period may submit their claims either personally or through mail at the PDIC Office, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City, starting on September 17, 2012.

When filing deposit insurance claims, depositors are advised to mail or 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 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 New RB Tagkawayan is on May 19, 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.