The Philippine Deposit Insurance Corporation (PDIC) has started receiving claims from depositors of Banco Filipino with account balances above P10,000 today. Claims for accounts with balances below P10,000 but with outstanding loans and those with incomplete addresses in the bank records will also be received.

The schedule of receiving of claims is based on alphabetical order of depositors’ surnames to ensure orderly procedures. We have posted the schedule in our website and in bank premises. It was also published in a newspaper.

The period of claims receiving varies among branches because of the number of accounts. Branches with large number of accounts will receive claims until May 13, 2011, while those with smaller number of accounts will end earlier.

Depositors who are unable to file their claims during the designated receiving period, may file their claims at the PDIC Office at the SSS Bldg. in Ayala Avenue starting May 14, 2011. Claims may also be filed through mail. Depositors have until March 18, 2013 to file their claims.

All claims will be processed at the PDIC head office. PDIC targets payout to start in mid-July. The schedule and payout details will be announced later. Rest assured that PDIC is doing all its best to speed up the process and start payout of claims at the soonest possible time.

Meanwhile, PDIC continues to mail payment for accounts with balances of P5,000 and below without outstanding loans. For accounts with balances of above P5,000 but below P10,000, mailing of payments will start in May. We reiterate our commitment to pay deposit insurance for all valid deposits as soon as possible.