PDIC starts paying depositors of closed La Union bank

Posted at 09/11/2012 1:24 PM | Updated as of 09/11/2012 7:23 PM

MANILA, Philippines - The Philippine Deposit Insurance Corporation (PDIC) will start servicing the claims of depositors of the closed Rural Bank of Naguilian (La Union), Inc. tomorrow (September 12).

The PDIC will conduct the claims servicing at the bank's head office along Naguilian Highway in Natividad, Naguilian, La Union from September 12 to October 4, and the San Fernando branch from September 12 to 21.

Depositors who have aggregate account balances of P10,000 and below are not required to file their deposit insurance claims provided their addresses in the bank's records are complete and updated; and they have no outstanding obligations with Rural Bank of Naguilian. 

Depositors whose accounts have balances of above P10,000 are required to file their claims on their respective appointment dates. 

PDIC started issuing control numbers to depositors today (September 11) at the designated payout sites. The number corresponds to a specific appointment date.

Depositors are required to present their evidence of deposit before they can get a control number. 

The appointment dates, requirements and procedures for filing deposit insurance claims are posted at the designated payout sites and on the PDIC website, www.pdic.gov.ph http://www.pdic.gov.ph/. 

Depositors who will not be able to file their claims during this period may submit their claims through mail to PDIC or personally at the PDIC Claims Counter, 4th Floor, SSS Bldg., Ayala Ave. corner V.A. Rufino St.  Makati City starting on October 15 from Monday to Friday, 8:00 a.m. to 5:00 p.m. 

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 IDs with signature of the depositor. 

Depositors below 18 years old are required to submit either a photocopy of their Birth Certificates 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 as an additional documentary requirement. Claimants who are not the signatories in the bank records are required to bring an original copy of a notarized Special Power of Attorney (SPA) issued by the depositor or parent of a minor depositor. The Claim Form, CSS and format of the SPA may be downloaded from the PDIC website. 

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in RB Naguilian is on June 30, 2014. After the said date, PDIC, as deposit insurer, shall no longer accept deposit insurance claims for the said bank.