Banco Filipino depositors line up for claim forms

CEBU, Philippines - The Sinulog Hall of the Cebu City Public Library was filled with anxious depositors from all over the province affected by the sudden closure of Banco Filipino.

Philippine Deposit Insurance Corporation-Department Manager for Receivership and Liquidation Ferdinand Beluan headed the depositor’s forum by answering queries from affected depositors on various problems regarding their accounts.    

Beluan said during the forum that affected depositors simply need to prepare basic requirements for them to retrieve their deposit insurance.

PDIC also distributed yesterday around 5,000 claim forms which should be filled up by the depositor and submitted to PDIC upon their request with other basic requirements for the claiming of their deposit insurance.  

The line of people ran as far as out of the library and into the sidewalk.

The depositors can bring any of the following accepted documents; depositor’s passbook, certificate of time deposit, unused checks and other banks statements.

During the distribution phase, PDIC said examiners will look for any valid ID to check the identity of the depositor. These include ID for SSS, GSIS, PRC, BIR, school, voters and postal. Police clearance and passports are also accepted.

Depositors must prepare a photocopy of any of the above-mentioned documents, and with the original, present it to the PDIC claim examiner on the date which PDIC has yet to divulge.

For depositors 17 years old and below, parents or guardians should prepare a duly filled up claim form with either the local birth or the National Statistics Office certificate photocopy.

For cases concerning deceased, paralyzed, overseas depositors, claimants should prepare a special power of attorney authorizing those concerned to claim the deposit insurance. In cases of overseas depositors, the claimant must present a SPA authenticated by the Philippine Embassy or Consul. 

Banco Filipino is still under the receivership of transfer phase to PDIC according to Beluan. Right after the transfer of assets, record and affairs, PDIC will immediately start with the checking of all of the bank’s assets.

Following the transfer, PDIC will start with the distribution of deposit insurance ranging from accounts with P5,000 to P500,000 insured by PDIC. –(FREEMAN)