As a service to depositors of the closed Banco Filipino Savings and Mortgage Bank (Banco Filipino), the Philippine Deposit Insurance Corporation (PDIC) has started the conduct of a series of Depositors Forums nationwide. During the Forums, PDIC explains the procedures and requirements for filing deposit insurance claims. Claim forms are also distributed during said forums. Seven Depositors Forums covering depositors of 12 branches were conducted on March 22. The PDIC reported that about 30 more Depositors Forums are scheduled to be conducted until next week.

PDIC had earlier announced that depositors with accounts of P5,000 and below, who have no outstanding loans and whose addresses are updated in the Bank’s records, are no longer required to file deposit insurance claims. Payments in the form of postal money order (PMO) will be mailed directly to these depositors through registered mail. The PMOs may be encashed in more than 1,400 postal offices and more than 300 Land Bank branches nationwide. Based on the latest available data on Banco Filipino, 53% of its total number of accounts are those with balances of P5,000 and below.

Only depositors with accounts above P5,000; and depositors with P5,000 and below, who have outstanding loans and whose addresses are not updated in the Bank’s records, are required to file deposit insurance claims.

The March 22 Forums covered depositors who maintained accounts with the Head Office in Makati City, Guadalupe and J.P. Rizal branches also in Makati City; Malabon, Kalookan, Alabang, Paranaque, Sucat, Cebu-Mango Avenue, Cebu-Juan Luna, Mandaue and Cagayan de Oro City branches.

Meantime, nine Depositors Forums will be conducted on March 23 covering 16 branches namely: Makati Avenue and Benavidez in Makati City; Quiapo, Tayuman, Tutuban, Espana, Laong-Laan, and M. Dela Fuente in Manila; Novaliches, Amoranto and Roosevelt in Quezon City; Balanga, Angeles City, Naga City, Iriga and Dumaguete City. PDIC personnel officers are disseminating information on the Forums.

Five Depositors Forums have been arranged involving 10 branches on March 24 namely: Ermita, Quirino, Taft and Intramuros in Manila; Mandaluyong, San Juan, Greenhills, Baliuag, Cabanatuan and Butuan City. On March 25, there will be Forums for depositors of Dagupan, Puerto Princesa and Iloilo branches.

Starting next week, Depositors Forums will be conducted for depositors of Pasig, Lucena and La Union branches on March 28; Batangas City, Laoag and Davao- San Pedro branches on March 29; San Pablo City, Davao-Gaisano, and General Santos City branches on March 30; and in Santiago branch on March 31.

PDIC said that more Forums are being coordinated with concerned local government units in provinces where Banco Filipino branches are located. The schedule of Depositors Forums is posted in the PDIC website at www.pdic.gov.ph. The schedules are also posted at the bank premises, and announcements have been made in newspapers.

PDIC said that the schedule of the Claims Receiving Operations will be announced as soon as possible.

The state deposit insurer estimated that 97% of total deposit accounts in Banco Filipino are insured. It reassured depositors that it will pay deposit insurance for all valid deposits. Earlier, PDIC President Jose C. Nograles had mobilized the entire organization to fasttrack the claims processing operations. He emphasized that the speed of payout also depends on the availability of bank records and the documents submitted by claimants. end