The Philippine Deposit Insurance Corp. (PDIC) said it would start servicing claims of G7 Bank depositors today to relieve the build up after the bank was shut down this month.
PDIC announced over the weekend that it would service depositor claims in three phases including holidays due to “the extraordinarily large number of accounts.”
“PDIC devised a schedule for the orderly servicing of claims,” PDIC said in a statement. “The schedule involves three phases and includes Aug. 25, 2008, another holiday.”
During the initial claims servicing operations, PDIC said it would distribute claim forms indicating the respective schedules when the depositor would return to the bank to submit the accomplished forms together with the documentary requirements.
For claim forms without dates, PDIC said depositors were advised of the schedule of resumption (through posting of notices in the respective branches) and when to submit the accomplished claim forms with the documentary requirements.
PDIC said initial servicing of claims would be conducted in the bank’s head office located at Panganiban Drive corner Concepcion Pequena, Naga City, Camarines Sur, and Naga and Nabua branches.
Claims would also be serviced in Daraga, Ligao, Polangui and Pasig branches from Aug. 18 to Sept. 5, 2008 during office hours from Mondays through Fridays including holidays.
“PDIC will resume claims servicing on Oct. 1 to 28, 2008, during office hours,” PDIC said. “These will be done at the Head Office for depositors of the Head Office and Naga and Nabua branches; at Polangui for depositors of Polangui, Daraga and Ligao branches; and at the PDIC Ayala Office for the depositors of Pasig Branch.”
In the third phase, according to the PDIC, all G7 Bank depositors were advised to mail their claim forms and documentary requirements to the PDIC office.
“PDIC assured depositors that all valid deposit insurance claims shall be paid, and that is why PDIC staff shall be working even through holidays during the initial claims servicing operations,” PDIC said. — Des Ferriols