With accounts of P10k and below PDIC starts accepting claims of Banco Filipino depositors

CEBU, Philippines - The Philippine Deposit Insurance Corporation (PDIC) yesterday started accepting claims of depositors of Banco Filipino Savings and Mortgage Bank (BF) with account balances of about P10,000. PDIC will accept claims until May 13, 2011.

To be received also on the same dates are claims for accounts with balances of P10,000 and below with outstanding loans and incomplete addresses in the bank records.

PDIC in a statement said that the schedule of receiving of claims which is based on alphabetical listing of depositors’ surnames is posted in the PDIC website www.pdic.gov.ph and in the bank premises.

Starting May 14, 2011, depositors may file their claims at the PDIC office located at the 4th Floor, SSS Bldg., Ayala Avenue cor. V.A. Rufino St., Makati City from 8:00 A.M. to 5:00 P.M., Monday to Friday.

Claims may also be mailed to the PDIC office. Depositors have until March 18, 2013 to file their claims.

All claims will be processed at the PDIC Head Office. PDIC targets to start payout in mid-July. The schedule of payout will be announced later.

Meanwhile, PDIC continues the mailing of payment for accounts with balances of P5,000 and below without outstanding loans. Mailing of payments for accounts over P5,000 up to P10,000 is targeted to start in May.

When filing claims, depositors are required to submit the following: 1) duly accomplished claim forms which were distributed during Depositors’ Forums conducted nationwide or downloaded from the PDIC website; 2) claim status sheets (CSS); 3) original copy of the evidence of deposit such as passbook, certificate of time deposit, bank statements, unused checks or ATM cards; and 4) clear photocopies of two valid IDs bearing photo and signature of the depositor or claimant. 

PDIC reiterated its commitment to pay deposit insurance for all valid deposits as soon as possible.

Early this month, PDIC announced that it paid deposit insurance to 33,400 depositors of BF.

The payment was coursed through the Postal Money Order (PMO) without the need for filing claims.

The state-managed deposit insurance agency has paid a total amount to depositors reaching P59 million for account balances of P5,000 and below with no outstanding loan and with complete addresses in the bank records.

Mailing of payments is done continuously and completion of payment for said accounts is expected by May this year. (FREEMAN)