PDIC to continue processing claims of closed Tarlac bank

ABS-CBN News

Posted at Mar 02 2015 04:12 PM | Updated as of Mar 03 2015 12:12 AM

MANILA – The Philippine Deposit Insurance Corporation (PDIC) said depositors of the closed Cooperative Bank of Tarlac can continue to file deposit insurance claims until 2016.

PDIC said it will receive and process deposit insurance claims at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City until October 27, 2016.

Depositors can also file claims through mail.

PDIC said it will no longer accept any deposit insurance claims after the deadline.

PDIC said a total of P154.3 million in insured deposits covering 598 accounts was paid during the onsite claim settlement operations while filing of claims for 1,496 accounts representing accounts with balances of P50,000 and below was waived.

Payments for these accounts amounting to P4.8 million were made through postal money orders sent via registered mail.

The Cooperative Bank of Tarlac has P200.5 million in total estimated insured deposits involving 3,856 accounts. The bank was ordered closed on October 27, 2014.

PDIC said that as of November 19, 2014, it has yet to receive deposit insurance claims for P39.4 million covering 1,580 accounts.

When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original evidence of deposit, and two valid photo-bearing IDs with signature. The same set of documents must be enclosed when claims are filed through mail.

Depositors who are below 18 years old are required to 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 as an additional requirement, with the Claim Form signed by the parent.

Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney. In the case of a minor depositor, the Special Power of Attorney must be executed by the parent.

Details on the procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form and format of the Special Power of Attorney may also be downloaded from the PDIC website.